More than two million Australians experienced credit card fraud in 2023-24 and nearly a third of those did not fully recover lost funds.
Australian Bureau of Statistics (ABS) figures released today also showed that 675,000 people responded to a scam in the same 12 months.
The bureau’s Personal Fraud Survey (PFS) said that 9.9 percent of Australians aged 15 years and over were victims of card fraud in 2023-24.
ABS head of crime statistics William Milne said this was up from 8.7 percent in 2022-23.
“We found 72 percent of card fraud victims were fully reimbursed by their card issuer,” Mr Milne said.
“Collectively, the net loss to all victims after any reimbursements were paid out was $477 million.”
The PFS found that increasing numbers of Australians were responding to scams.
“We found that 3.1 percent of people were victims of scams in 2023-24, up from 2.5 percent in the previous year,” he said.
“Buying or selling scams, which includes things like false billing and online shopping scams, were the most common, experienced by about 308,000 Australians.”
The survey found 71 percent of scam victims notified (or were notified by) an authority about the incident, most commonly a bank or financial institution (54 percent).
The full report is on the ABS website.
