Scam stats: how to stay safe these holidays

Fraud on payment cards is returning to pre-pandemic levels, with authorities and police warning Australians to be vigilant against scammers over the Christmas and New Year holidays.

According to the Australian Payments Network (AusPayNet), a 35.6% rise in fraud was recorded on payment card transactions in the 12 months to 30 June 2023, rising to $677.5 million. 

“Total spending on Australian cards during the same period rose by 15.4% to $1.055 trillion. As a result, the fraud rate for FY23 increased to 64.2 cents per $1,000 spent, up from 54.7 cents in FY22, and returning to nearly the same levels as the pre-pandemic FY19 figure of 66.1 cents per $1,000 spent.”

AusPayNet CEO, Andy White, said that “the nexus between fraud, scams, and cybercrime continues to create a complex challenge for the payments industry,” stressing the criticality of ongoing industry collaboration in ensuring a resilient, reliable, and safe Australian payments system.

Meanwhile, according to the ACCCs Scamwatch, over $455 million has been lost to scams of all types over the 2023 calendar year, with the majority going to phishing attacks and investment scams.

Additionally, according to the Australian Federal Police, the National Anti-Scam Centre (NASC) has already received more than 11,000 reports of parcel delivery scams this year, with this figure expected to rise as shoppers take advantage of upcoming online shopping sales.

Finally, a 2023 RateCity survey found that 38% of respondents said they receive a scam attempt at least once a day. Out of those who had been scammed, just 12% reported it to the ACCC.

RateCity.com.au research director, Sally Tindall, said: “Concerningly, our survey found almost a quarter of respondents aren’t doing anything to protect themselves from scammers when there are some relatively easy steps you can take to help fend off a scam attack.”

Some of the precautions you could take include:

• Using strong passwords
• Turning on bank notifications
• Avoiding public Wi-Fi
• Avoiding opening any link from an unknown source
• Using retailers you know and trust.
• Being wary of phone numbers you don’t recognise.
• Keeping an eye on your credit score
• Reviewing your privacy settings
• Checking your card and bank statements regularly
• Never sharing one-time passwords or your access information

If you are the unfortunate victim of a scam, consider taking the following steps:

1. Contact your bank immediately
2. Change your passwords
3. Spread the word and be on high alert
4. Monitor your accounts
5. If your identity has been stolen, contact IDCARE, Australia’s not-for-profit identity and cyber support service, on 1800 595 160

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