The most common type of credit card fraud is unauthorised transactions. It can sometimes take many different forms. What Is Credit Card Fraud?įirst, let’s define what credit card fraud is exactly. Here’s what to do if you’ve been affected by credit card fraud. The more you know about credit card fraud, the better equipped you’ll be to protect yourself, your finances, and your future. In this digital day and age, education is key. Most banks take protective steps to keep customers safe, but you’re still responsible for your own financial security. Unlike debit cards, credit cards are often the primary target of fraud and scams. ![]() While this number is on the decline thanks to increased technology and security measures, it’s still essential to know what to do if fraud happens to you. According to the Australian Payments Network, there was a total of $494 million in fraud in 2019 alone. ![]() While we would all like to think credit card fraud will never happen to us, it unfortunately affects a startling number of Aussie’s every year.
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