Millions of Aussies are being duped with these 'sophisticated' credit card fraud tactics
- Replies 30
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.
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.
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.
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.
.png){kind=icon}
