Bank and credit card fraud on the rise amid coronavirus lockdowns
One in nine Australians have fallen victim to personal fraud, with card fraud the most common type as more people banking and shopping online because of COVID-19. Key points: Nearly 7 per cent of Australia’s adult population or 1.4 million people experienced card fraud in 2020-21 Fraud on bank and credit card transactions rose 9.2 percent to $490 million during the 2020-21 financial year Australians lose more than $2 billion from fraud in 2021 Card fraud is when criminals obtain your banking or credit card details to illegally access your account and steal money. The Australian Bureau of Statistics said 11 per cent of Australians, or more than 2 million people, were victims of personal fraud in 2020-21, compared with 8.5 per cent in 2014-15. The increase was driven by an increase in card fraud, which was the most common type of fraud, followed by fraud. Around 1.4 million Australians experienced card fraud in 2020-21 — nearly 7 per cent of the adult population and a rate higher than in