According to data released by the Australian Payments Clearing Association, card not present (CNP) fraud has jumped 15.5 percent in 2012, reaching USD 189.4 million, up from USD 164 million in 2011. The same source indicates that total payments fraud on Australian cheques and payment cards has increased from 13.2 cents to 15.6 cents in every USD 1000 transacted in 2012.
The survey also points out that CNP fraud in Australia is growing as a percentage of overall CNP fraud, climbing from 35.5 percent in 2010 to 40.6 percent in 2012, as an increasing number of Australian retailers launch online services.
Other report released by Ernst & Young, a provider of assurance, tax, transaction and advisory services, finds that only 11 percent of the Australians have placed privacy and security in their top 10 get rights for online stores. Less than half (47 percent) have declared they trusted Australian stores online more than international ones.
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