Fraud Statistics Jul 23 - Jun 24
In the 12 months to 30 June 2024 (FY24), there was a total of $868 million in card-related fraud.
In FY24, card-not-present (CNP) fraud on Australian-issued cards used domestically and overseas increased 29% to $785 million. Within that total:
- Domestic fraud on Australian-issued cards increased 12% to $351 million.
- Overseas fraud on Australian-issued cards increased 20% to $434 million.
Overseas CNP fraud on Australian-issued cards overtook domestic fraud for the first time since 2017.
CNP fraud accounts for 92% of overall fraud on Australian cards.
In FY24, total spending on Australian-issued cards was over $1.1 trillion.
The overall fraud rate was 77.6c per $1,000 spent.
The rate of domestic CNP fraud dropped 3.7 per cent, falling from $1.07 to $1.03 per $1,000 spent.
The overseas CNP fraud rate is significantly higher than the prior 12-month period, rising 31 per cent from $9.50 to $12.45 per $1,000 spent.
For further information, please see our blog post. The fraud data tables are available below.
Fraud Perpetrated on Australian Cheques and Cards
1 July 2023 - 30 June 2024
| Fraud Transactions | Total Transactions | Fraud Rates | ||||
| Number | Value | Number (millions) | Value (millions) | as % of total no. of transactions | as % of total value ($) of transactions | |
| Cheques | 900 | $3,130,539 | 18 | $228,518 | 0.0050% | 0.0014% |
| Australian-issued cards | 6,298,444 | $868,144,980 | 15,459 | $1,118,255 | 0.0407% | 0.0776% |
| Proprietary debit cards | 97,926 | $12,804,430 | N/A | N/A | N/A | N/A |
| Scheme credit, debit and charge cards | 6,200,518 | $855,340,550 | N/A | N/A | N/A | N/A |
| Total | 6,299,344 | $871,275,519 | 15,477 | $1,346,773 | 0.0407% | 0.0647% |
Cheque Fraud Perpetrated in Australia
1 July 2023 - 30 June 2024
| Category | Actual | Exposure | Recoveries* |
| On-Us Fraud | Transactions | Value ($) | Transactions | Value ($) | Value ($) |
| Valueless | 2 | $53,117 | 227 | $23,924,939 | $523,132 |
| Fraudulently Altered | 78 | $482,805 | 373 | $2,050,255 | $467,610 |
| Stolen Blank Cheque / Book | 674 | $1,567,365 | 1,602 | $13,774,533 | $2,018,861 |
| Originated Counterfeit Cheques | 50 | $538,942 | 184 | $3,634,803 | $722,630 |
| Non-originated Counterfeit Cheques | 30 | $167,555 | 296 | $16,357,227 | $1,950,461 |
| Breach of Mandate | 5 | $33,861 | 12 | $70,132 | $0 |
| On-Us Total | 839 | $2,843,645 | 2,694 | $59,811,889 | $5,682,694 |
| Deposit Fraud | |||||
| Valueless | 48 | $220,411 | 499 | $30,628,109 | $579,378 |
| Valueless - Kite Flying | 10 | $62,279 | 54 | $626,679 | $152,000 |
| Third Party Conversion | 3 | $4,204 | 291 | $25,712,133 | $642,792 |
| Deposit Total | 61 | $286,894 | 844 | $56,966,921 | $1,374,170 |
| Total | 900 | $3,130,539 | 3,538 | $116,778,810 | $7,056,864 |
* Data on the 'transactions' of recoveries is not collected.
“Actual” losses can relate to “Exposure” during an earlier period. This explains why, in some reporting periods, actual losses may exceed exposure.
Proprietary Debit Card Fraud Perpetrated in Australia
1 July 2023 - 30 June 2024
| Category | Transactions | Value |
| Debit Card Fraud – PIN Used: | ||
| Lost/Stolen | 19,311 | $2,7,26,854 |
| Never Received | 3,108 | $499,091 |
| Counterfeit/Skimming | 9,146 | $2,451,638 |
| Other | 9,669 | $3,212,637 |
| PIN Used Total | 41,234 | $8,890,220 |
| Debit Card Fraud – PIN Not Used: | ||
| Lost/Stolen | 34,887 | $1,793,312 |
| Never Received | 4,400 | $215,070 |
| Counterfeit/Skimming | 581 | $222,652 |
| Other | 16,824 | $1,683,176 |
| PIN Not Used Total | 56,692 | $3,914,210 |
| Total Debit Card Fraud | 97,926 | $12,804,430 |
Note: For fraudulent transactions initiated at ATMs, POS terminals and other devices, the above statistics incorporate all transactions where either "cheque" or "savings" was selected, regardless of the type of card used (that is debit card, 'combo’ card, scheme card etc). The number of fraud transactions does not represent the number of cards or consumers affected. Typically, multiple fraud transactions are made on a single card.
Scheme Credit, Debit and Charge Card Fraud
Perpetrated in Australia and Overseas on Australia-issued Cards
1 July 2023 - 30 June 2024
| Category | In Australia | Overseas | Total |
| Transactions | Value ($) | Transactions | Value ($) | Transactions | Value ($) | |
| Lost / Stolen | 352,289 | $28,893,416 | 177,787 | $24,691,359 | 530,076 | $53,584,774 |
| Never Received | 11,030 | $1,249,831 | 569 | $132,075 | 11,599 | $1,381,905 |
| Fraudulent Application | 1,697 | $695,865 | 532 | $192,616 | 2,229 | $888,481 |
| Counterfeit / Skimming | 7,603 | $1,569,235 | 6,114 | $2,136,702 | 13,717 | $3,705,936 |
| Card Not Present (CNP) | 2,634,929 | $351,176,237 | 2,987,975 | $433,844,133 | 5,622,904 | $785,020,370 |
| Other | 10,441 | $4,230,274 | 9,552 | $6,528,809 | 19,993 | $10,759,082 |
| Total | 3,017,989 | $387,814,858 | 3,182,529 | $467,525,692 | 6,200,518 | $855,340,550 |
Note: The number of fraud transactions does not represent the number of cards or consumers affected. Typically, multiple fraud transactions are made on a single card.
Fraud Perpetrated in Australia on Cards issued Overseas
| Category | Transactions | Value ($) |
| Lost / Stolen | 20,244 | $3,171,709 |
| Never Received | 950 | $183,997 |
| Fraudulent Application | 730 | $102,628 |
| Counterfeit / Skimming | 25,577 | $4,659,373 |
| Card Not Present (CNP) | 401,378 | $75,973,533 |
| Other | 8,608 | $1,972,700 |
| Total | 457,487 | $86,063,940 |
Note: The number of fraud transactions does not represent the number of cards or consumers affected. Typically, multiple fraud transactions are made on a single card.
