AusPayNet releases card fraud data for 2020

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New data released today by the payments industry self-regulatory body, Australian Payments Network (AusPayNet), has shown a slight increase in online card fraud in 2020 as the shift to online payments accelerated with the onset of COVID-19 in Australia.

AusPayNet’s latest payments fraud report shows that the overall spend on Australian cards was down by 2.2% to $801.7b, the first drop recorded. The overall value of card fraud increased by 0.6% to $467.6m, following a 19.5% drop in 2019. Australians are not liable for fraud on their cards and will be reimbursed as long as they take due care.

Card-not-present (CNP) fraud, mainly affecting online card transactions, increased by 3.8% to $418.9m, alongside a surge in online spending driven by lockdowns and other restrictions during the pandemic. The NAB Online Retail Sales Index[1] estimates that online retail spending grew by 44% in 2020.

The value of other types of card fraud…

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