Credit card fraud has been a growing concern in Australia, with millions of individuals falling prey to increasingly 'sophisticated' scams.

Despite the prevalence of these crimes, a startling number of victims are not reporting the incidents.

This could allow fraudsters to continue their nefarious activities unchecked.

According to Finder's recent research, one in six Australians has experienced debit or credit card skimming in the past year.

This alarming statistic translated to approximately 3.6 million people who scammers have targeted.

About four per cent of these victims did not report the fraud.

Credit card users were warned to keep their financial information safe from skimmers. Image Credit: Pexels/Cottonbro Studio

Meanwhile, another three per cent only realised they had been scammed later.

The survey, which included 1,049 participants, illuminated the concerning reality of credit card fraud in the country.

Finder Money Expert Rebecca Pike highlighted the sophistication of modern scammers.

'It seems almost impossible for someone to steal your credentials without having your physical card, but it happens quite often,' Ms Pike stated.

Phishing, a deceitful practice where scammers trick individuals into providing sensitive information, remains one of the most common methods used by fraudsters.

However, Ms Pike said that unsecured Wi-Fi networks and card skimming devices also became a scammer's go-to tools.

To combat these threats, Ms Pike recommended consumers to opt-in for phone notifications for transactions.

This could help quickly identify any fraudulent activity.

'Take every step you can to minimise the risk. Don't save passwords on sites, be really certain you can trust anywhere you enter your card into and check ATMs for skimmers,' Ms Pike added.

One of her most crucial pieces of advice was never to provide card information over the phone, text, or email.

'If someone calls and asks for your number over the phone, assume it's a scam,' Ms Pike concluded.

The rise in credit card fraud reminds us to stay vigilant when it comes to financial information.

It's essential to stay informed about the latest scams and take proactive steps to protect ourselves.

This includes regularly checking bank statements, using secure payment methods, and being cautious about sharing personal information.

If you suspect you've been a victim of credit card fraud, report it immediately to your bank.

Not only can they take steps to secure your account, but they should also work with authorities to track down perpetrators.

Key Takeaways

• One in six Australians have experienced debit or credit card skimming in the past year, equating to about 3.6 million people.
• A concerning four per cent of those affected admitted to not reporting the incident of credit card fraud.
• Scammers started using sophisticated methods including phishing, unsecured Wi-Fi, and card skimming machines for fraud.
• Experts advised against saving passwords on sites, checking ATMs for skimmers, and never providing card information over the phone, text, or email to minimise the risk of fraud.

Have you or someone you know been affected by credit card fraud? What measures have you taken to protect your financial information? Join the conversation in the comments section below.

 

[bluetang]

I bought a pair of these socks. One size fits all BS I couldn't get it on my foot and it certainly wouldn't fitted my husbands foot. I complained and wanted to send them back, and their response was give them away. Who to a child with a small foot?

 

[bluetang]

I bought a pair of these socks. One size fits all BS I couldn't get it on my foot and it certainly wouldn't fitted my husbands foo

 

[bluetang]

I bought a pair of these socks. One size fits all BS I couldn't get it on my foot and it wouldn't certainly
not fitted my husbands foo

 

[mylittletibbies]

Suffering from a total lack of patience and being allergic to crowds (people) I prefer to do all of my shopping on line, infrequent trips to supermarkets for food shopping I have my husband with me (I think it is so he can stop me from biting other shoppers!!) but food is the only thing I will buy in person, online shopping for clothes is so much easier than browsing through endless shops,(did I mention being very impatient) my computer screen will show me endless examples of the clothes that I want without me standing there browsing through racks of stuff that I do not like or want, I always use PayPal for my purchases and have never had a problem with payment or delivery, I admit to be a clothesacholic and my wardrobe proves it but I would be lost if I did not to have the ability to forgo shopping in person, the general public are safer also!!

I bought a pair of these socks. One size fits all BS I couldn't get it on my foot and it certainly wouldn't fitted my husbands foot. I complained and wanted to send them back, and their response was give them away. Who to a child with a small foot?

Well they do give you your money back so just throw them out . I'm assuming you are talking about Temu, you didn't say.
I deal with them all the time and only once I received the wrong item . The right item actually but the wrong colour.
I had a refund in my account in about fifteen minutes. They also told me to give them away, my daughter in law was appreciative of them (cushion covers).
Much better service than a lot of Australian companies I can mention.
I once waited nearly three months for a refund from Rockmans and they made the refund very hard to get.