Media Releases

  • Payments Fraud

    The trend of increasing card-not-present fraud reflects the strong growth in online spending by Australians.

     
     

    MEDIA RELEASE

    Sydney: 9 December 2014

    Payments fraud trends a reminder to take care when Christmas shopping online

    Today’s interim release of payments fraud data by the Australian Payments Clearing Association, the payments industry self-regulatory body, reflects the trends reported in “Australian Payments Fraud – Details and Data for 2013” in June 2014.

    Today’s data, which are for the 12 months to June 2014, are available at www.apca.com.au. Complete payments fraud data for 2014 will be available in mid-2015.

    The data show that compared to figures for the same period last year, the total rate of fraud on Australian cards and cheques increased from 16.1 cents to 18.7 cents per $1,000 spent.

    This increase is largely due to a rise in card-not present-fraud mainly occurring online. Card-not-present fraud on Australian cards increased from $199.2 million to $256.1 million. The majority of this fraud (66%) occurred overseas.

    The trend of increasing card-not-present fraud reflects the strong growth in online spending by Australians. In the four years to December 2013 online purchases increased by an estimated 140%. This compares to a 67% increase in card-not-present fraud over the same period.

    APCA CEO Chris Hamilton said, “We all know that the economy is going digital, and this year even more people will be doing their Christmas shopping online. Along with the convenience of online global shopping comes a greater need to be aware of scams and to know who you are dealing with. The rise in online cross-border card fraud is a timely reminder to take special care this holiday season.”

    Consumers can take simple steps to help stay safe when shopping online including:

    • Only providing their card details on secure websites – looking for the locked padlock.
    • Always keeping their PC security software up-to-date and doing a full scan often.
    • Registering for and using their financial institution’s online fraud prevention solutions whenever prompted.
    • Checking account statements and reporting any suspicious transactions to their financial institution immediately.

    Australian consumers are not liable if fraudulent transactions are made on their accounts and will be reimbursed their funds as long as they have taken due care.

    Retailers can take simple measures to help protect their businesses from online fraud including by taking advantage of the tools available such as online authentication methods American Express SafeKey, MasterCard SecureCode and Verified by Visa. Further information is available in APCA’s “Get Smart About Card Fraud Online” training.

    Today’s interim release also shows that:

    • Counterfeit / skimming fraud increased from $37.9 million to $42.0 million, well down from its peak of $66.0 million in 2011. This rise is largely due to ATM skimming attacks over the period. Continued vigilance by financial institutions and by the police, alongside the industry move towards chip-reading at ATMs, is crucial to limiting this fraud. Consumers should help protect against this type of fraud by covering their hand when entering their PIN at ATMs and point-of-sale devices.
    • Lost and stolen fraud on Australian cards increased from $30.5 million to $33.1 million. This comprises a slight drop (-1.5%) to $20.5 million in the fraud occurring in Australia, but an increase (30.2%) to $12.5 million in fraud occurring overseas. Consumers are reminded to always keep their cards and PINs safe.

    APCA’s next comprehensive payments fraud report “Australian Payments Fraud – Details and Data for

    For further information visit:

    APCA website: Get Smart About Card Fraud Online; Protect Your Pin; Safeguard Against Skimming ACCC website: SCAMwatch

     

    Media contact:

    Ida Turner, APCA Communications P: (02) 9216 4817 M: 0409 716 556 

     

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Email info@apca.com.au www.apca.com.au

     
     
  • Consultation on establishment of an Australian Payments Council

    MEDIA RELEASE

    21 October 2013

    APCA and RBA joint consultation on establishment of an Australian Payments Council 

    The Australian Payments Clearing Association and the Reserve Bank of Australia today announced the initiation of a joint consultation on establishing a new payments industry coordination body, the Australian Payments Council.

    The proposed Council will engage directly with the Payments System Board to foster ongoing improvements to the Australian payments system.

    The new senior-level body will coordinate dialogue between the industry and the Payments System Board on strategic objectives and other payment issues. It will work to generate common industry positions for action and adoption by the industry.

    APCA CEO Chris Hamilton said “When systemic collaboration is needed, the Australian payments industry has a strong track record – the New Payments Platform Program is just the most recent example. However, there can be an initial challenge in developing the common strategic resolve to take action. Having a standing body such as the proposed Payments Council, with the ability to engage with the Payments System Board, should strengthen our ability to identify and address issues of common relevance in a timely way.”

    It is proposed that the Council be made up of representatives of diverse parties in the payments system including financial institutions, payment schemes and other payment and service providers. The proposed framework comprises a payments community of interested parties, from which the Council will be drawn.

    The establishment of such a body was proposed by the Payments System Board in the Strategic Review of Innovation in the Payments System conclusions in 2012. APCA and the Reserve Bank undertook a series of informal discussions with industry participants on possible approaches during the latter half of 2012 and have been jointly working on a proposal for the Council. 

    A consultation paper outlining the proposal is available on the APCA website. Responses are due on 18 November 2013. 

    ENDS

    Media:

    Ida Turner, APCA Communications Tel. (02) 9216 4817 Mobile: 0409 716 556 

    Australian Payments Clearing Association Limited ABN 12 055 136 519 Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9221 8944 Facsimile +61 2 9221 8057 www.apca.com.au

  • NPP Steering Committee appoints new Chair

    MEDIA RELEASE

    Sydney: 3 October 2013 

    New Payments Platform Steering Committee Appoints New Chair

    The Australian Payments Clearing Association (APCA), the administrator of the New Payments Platform (NPP) Program, today announced that Mr Paul Lahiff has been appointed independent chair of the Program’s peak body, the NPP Steering Committee. 

    Mr Lahiff brings a wealth of expertise to the NPP Steering Committee. His career includes more than 30 years’ experience in financial services including CEO / Managing Director roles at Mortgage Choice, Heritage Building Society, Permanent Trustee and WDScott.

    Mr Lahiff is currently chair of Smartline Personal Mortgage Advisers, RFi and LIXI Australia. He is also a non-executive director on the board of Cancer Council NSW and until recently, ASX-listed Thorn Group Australia. In mid-2013, he was appointed chair of the APCA Stakeholder Forum. 

    APCA CEO Chris Hamilton said that the NPP Steering Committee was delighted Mr Lahiff had accepted the new position. “Paul’s skills have made him widely respected in the payments community. He will be a great asset to the Program,” said Mr Hamilton.

    Mr Lahiff will chair his first meeting of the NPP Steering Committee on 4 October 2013.

    The NPP Steering Committee comprises senior representatives from the Australian banking and mutual sector, an alternative payments provider and the APCA CEO. It is overseeing development of the new payments platform to enable fast, data-enriched and simply addressed payments services for Australian businesses and consumers.

    The NPP Program commenced at the end of June 2013 with the initial define and plan phase due for completion by the end of 2013. 

    ENDS

    For further information

    Contact: Ida Turner, APCA Communications
    P: (02) 9216 4817 M: 0409716556 

    Australian Payments Clearing Association Limited ABN 12 055 136 519 Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9221 8944 Facsimile +61 2 9221 8057 www.apca.com.au