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Australian credit card fraud up 55 per cent
May 19 2011, 16:55 PM
Professionals dealing with database management may be interested to hear that cases of credit card fraud are up 55 per cent in the past five years.
The Australian Bureau of Criminology revealed that almost 57 cents of every AUS$1,000 transacted using credit cards went to fraud, IT News reported.
In contrast, debit card fraud rose only slightly in the same time.
The figures were put forward in a report from the bureau, which collated data from the Australian Payments Clearing Association.
IT News also reported that the document said credit card fraud was one of the most under-reported crimes in the country, with police and authorities being informed of less than half of all incidents.
Earlier this week, Swedish online security expert Eugene Kapersky said that increased online identification to ensure proper verification of people would make a difference in the fight against cybercrime.
He also said that an international internet police force would help to see more cases investigated.
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