Aussies lost $1 billion to bank card fraud in past year, survey suggests

Australians have lost more than $1 billion to scammers after having their bank cards skimmed, new research has indicated.

Millions of people have fallen victim to bank card skimming in the past year, with the average victim losing $299, according to the research by Finder.

The comparison site surveyed 1058 Australians and found 17 per cent of them had been victims of debit and credit card fraud in the past 12 months.

Woman holding bank card and phone (Getty)
Millions of Australians have fallen victim to bank card skimming in the past year. (Getty)

The 17 per cent who had been scammed are representative of 3.4 million people when the whole population is taken into account.

Finder credit card expert Amy Bradney-George said the losses recorded were staggering.

“It’s a widespread problem and shows how effective scammers have become at deceiving innocent Australians,” she said.

The Finder survey showed millennials were most likely to be targeted, with 27 per cent of millennials admitting they’d had their card details used fraudulently in the past 12 months, followed by 22 per cent of gen Z.

Bradney-George has urged people to be wary of fake calls, texts and emails about purchases, prizes and deliveries.

“Scammers are getting very sophisticated at impersonating big, trustworthy brand names, and some even pretend to be a family member or friend in need.”

Image of text message scam impersonating someone's dad.

Text message scam attempts to fool recipient with contact name

She has also encouraged people to regularly check their transaction history.

“Contact your bank straight away…

Read more…

Leave a Reply

Your email address will not be published. Required fields are marked *