Aussies lose $500 million to credit card fraud

Australians lost more than $500 million to credit card fraudsters during the course of 2007, new stats have shown.

The first study of its kind, the Australian Bureau of Statistics’ (ABS) new report showed that approximately 383,000 people lost out to credit card fraud, with the average loss totalling $1600.

However, the Sydney Morning Herald noted that the true losses may actually be higher than this, as the ABS only questioned people about the amount of money they lost the last time they were a victim of credit card fraud.

About a third of the people polled said they had been scammed two times or more.

And with ever more devious ways of getting hold of people’s cash, it looks like the number of victims could grow.

One of the latest scams used to try to snatch credit card and bank account details is targeting Bendigo customers.

The bank has advised that people should be sceptical of any email asking for people to click on a link or provide bank account details.ADNFCR-1761-ID-18870330-ADNFCR