Media Releases

  • Towards a Digital Economy

    "The vast majority of us are moving away from cash and cheques faster than ever before."

    MEDIA RELEASE

    26 May 2017 

    Cheque use plunges as Australians choose digital payments

     

    The Milestones Reportreleased today by the payments industry self-regulatory body Australian Payments Network (previously Australian Payments Clearing Association), shows that the decline in cheque and cash use continues to accelerate as Australians embrace digital payments.

    Today’s report shows that cheque use plunged 20% to 111.6 million - the largest drop ever recorded. The value of cheques dropped by 6% over the same period, after remaining flat in 2015 and dropping by less than 1% in 2014. Over the last five years, cheque use has dropped 56%.

    Australia’s digital economy underpins what can increasingly be characterised as a less-cash society. The number of ATM withdrawals dropped 7.5% to 648.5 million in 2016 following a 5.5% drop in 2015 and a 4.7% drop in 2014. Since 2011, ATM withdrawals have dropped by 22%.

    CEO of the Australian Payments Network, Dr Leila Fourie said “Looking at the payment choices that Australians make, it’s clear that the vast majority of us are moving away from cash and cheques faster than ever before. This is happening because of widespread use of new technology combined with a strong preference for faster and more convenient payment options.”

    Consumers’ preference for digital payments is reflected in the strong year-on-year growth in card and direct entry transactions:

    • Australians used their cards 12.3% more in 2016, making 7.4 billion transactions.

    • Direct entry transactions (direct debit and direct credit) increased by 8.6% to 3.5 billion.

    Over the last five years, card transactions grew by 72% and direct entry by 36%.

    Increased smartphone penetration, which reached 84% in 2016, up from 76% in 2014, is an important contributing factor.

    Australia’s online retail spend was estimated at $21.6 billion in 2016 and encouragingly from a digital inclusion perspective, this spend is not restricted to digital natives. Older Australians are using online shopping platforms more, with domestic online spending growing by 8.7% for those in the 55-64 age group, and 7.5% for 65+.

    The Report also tracks progress on initiatives supporting Australia’s transition to the digital economy including the industry’s New Payments Platform and Australian Payments Plan.

    The Milestones Report and accompanying infographic are available here.

    ENDS

     

    Australian Payments Network releases regular Milestones Reports to review progress against the action plan it published in May 2012. See “The Decline of Cheques: Building a Bridge to the Digital Economy”

    Media Contact: Ida Turner, Australian Payments Network Communications Mob: +61 409 716 556

    Australian Payments Network Limited. ABN 12 055 136 519
    Level 23, Tower 3, International Towers Sydney, 300 Barangaroo Ave, Sydney NSW 2000. Telephone +61 2 9216 4888 www.apca.com.au

  • Announcing our New Name

    "Australian Payments Network" reflects the importance of the network in helping make payments thrive. 

    MEDIA RELEASE

    13 April 2017

    ANNOUNCEMENT: Name Change

     

    We are pleased to advise that the Australian Payments Clearing Association has changed its name to Australian Payments Network Limited.

    The new name reflects the importance of the network - both in terms of the payments network and the network of members and stakeholders that help the payments system thrive.

    APCA’s voting members unanimously approved the proposal to change the company’s name at the General Meeting held on 4 April 2017. The name change was subsequently approved by ASIC on 12 April 2017.

    The new name is effective immediately. You will see ‘Australian Payments Network’ on our corporate communications, email signatures, and information about our name change on the APCA website.

    Our new corporate identity will be launched towards the end of May. This is when we will start using corporate materials featuring our new logo, new email addresses and a new domain name.

    Why change?

    The rebrand is part of the company’s repositioning to more effectively meet the needs of the changing payments landscape.

    Established in 1992, our purpose was to manage the day-to-day operation of clearing systems and as such, “Australian Payments Clearing Association” was both descriptive and accurate. But the world of payments has changed significantly, as has our role.

    Today, we are the home for collaboration and cross-industry innovation. We play an important role in driving continuous improvement, bringing together members and a growing number of new stakeholders. Moreover, in our role as champion of the payments system, we help the payments network to thrive.

    We are very excited about the opportunities the rebrand offers and look forward to working with stakeholders to continue to champion the payments system.

    Dr Leila Fourie
    CEO
    Australian Payments Network

     

    Australian Payments Network 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

  • Payments Fraud

    Financial institutions and card schemes are actively working to tackle CNP fraud with a wide range of initiatives.

    MEDIA RELEASE

    16 December 2016

    APCA releases interim payments fraud data

     

    The Australian Payments Clearing Association, the payments industry self-regulatory body, today released interim payments fraud statistics covering the 12 months to 30 June 2016.

    The interim figures show that Australians spent $703 billion on their cards over the period – of this total 0.07%, or $521 million, was fraudulent. This represents a card fraud rate of 74.2 cents per $1,000 spent, up from 60.4 cents per $1,000 spent on the previous 12 months.

    The rise in card fraud is driven by increasing card-not-present (CNP) fraud. CNP fraud occurs when card details are stolen and then used to make purchases or other payments without the card, mainly online.

    Today’s figures show that CNP fraud increased from $323 million to $402 million over the 12 month period and accounted for 77% of all fraud on Australian cards.

    APCA CEO Leila Fourie said, “Increasing CNP fraud reflects the growth in e-commerce and a global trend in online card fraud and cybercrime in general. Financial institutions and card schemes are actively working to tackle this fraud with a wide range of initiatives.”

    Industry continues to progress the roll-out of significant measures including:

    • Improved cardholder authentication through one-time passwords and biometrics.

    • Reduced exposure of card data through tokenisation and adherence to global security standards for cards.

    • Fraud identification and prevention in real-time through dedicated analytics tools.

      “We have been successful in reducing counterfeit and skimming fraud at point-of-sale terminals in Australia with chip technology. By using the online authentication and fraud detection technologies available, we can do the same in the CNP space,” said Dr Fourie.

      “This year, we have also commissioned research on the impact of CNP fraud on consumers and the mitigation strategies taken in other jurisdictions, developed industry guidelines for implementing a range of fraud detection solutions, and are engaging with merchants to understand their needs and expectations,” said Dr Fourie.

      Merchants can help protect their businesses and customers from online fraud by taking advantage of the tools available including fraud detection and online authentication solutions.

      Consumers can take simple steps such as only providing their card details on secure websites and always keeping their PC security software up-to-date. Australians are not liable for any fraudulent transactions on their payment cards and will be reimbursed as long as they have taken due care.

      The interim fraud data are consistent with trends described in Australian Payments Fraud – Details and Data for 2015, released by APCA in August 2016.

      Today’s figures are available at www.apca.com.au. Comprehensive payments fraud data for 2016 will be released in mid-2017.

                                                                          ENDS

    Media Contact: Ida Turner, APCA Communications Tel: (02) 9216 4817 Mob: 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 Facsimile +61 2 9221 8057 www.apca.com.au

     

    Tips on how to protect against online card fraud

    Tips for merchants:

    • Use a fully hosted payment gateway provider to collect your payments.

    • Watch for suspicious orders. Is the order unusually large for your business? Is the customer trying various cards in order to make a successful payment?

    • Avoid shipping re-saleable goods to a temporary address (e.g. hotel) or to a PO box number.

    • Never take payments on behalf of any other business or person.

    • Only make refunds to the card originally used to pay for the goods.

    • Take advantage of the tools available such as online authentication methods – American Express SafeKey, Mastercard SecureCode and Verified by Visa.

    Tips for consumers:

    • Always keep your PC security software up-to-date and do a full scan often.

    • Only provide your card details on secure websites - look for the locked padlock.

    • Register for, and use your financial institution’s online fraud prevention solutions whenever prompted.

    • Check your account statements and report any suspicious transactions to your financial institution. 

     

     

  • Towards a Digital Economy

    Australia is making great strides in moving away from cheques and cash.

    23 November 2016

     

    MEDIA RELEASE

    Digital payments taking over from cheques

    The Milestones Report(1) released today by the Australian Payments Clearing Association, the payments industry self-regulatory body, shows that the drop in cheque use in the 12 months to June 2016 is the greatest annual drop in the last decade.

    Today’s report shows that cheque use dropped by 17.2% to 126.4 million. This compares to a 15.7% drop in 2015 and 13.5% in 2014. Since 2006, cheque use has dropped 73%. Cheques now only account for about one percent (1.2%) of all non-cash retail payments.

    Cash use also continues to drop steadily. The number of ATM withdrawals dropped by 6.6% to 675.8 million - also the greatest annual drop in the last decade - having dropped 4.9% in 2015 and 4.2% in 2014.

    In contrast, the use of digital payments is growing strongly:

    • Direct entry transactions (direct debit and direct credit) grew by 7.2% to 3.3 billion.
    • Card payments (credit and debit cards) grew by 12.1% to 7.0 billion.

    APCA CEO, Leila Fourie said “Australia is making great strides in moving away from paper payments – both cheques and cash. This is important from an efficiency viewpoint, for customer convenience and for digital inclusion.”

    Online payments are increasingly attractive to older Australians. Citing recent research, the Milestones Report notes that in 2015 more than half of internet users over the age of 65 made banking transactions online (53%) and just under a half (48%) had paid bills online

    The Report also highlights that:

    • Australia is reported second in the world for smartphone use, with 77% of Australians owning a smartphone.

    • 7.7 million Australian households have internet access – this represents 86% of all households, up from 83% last year.

    “Australia is leading the way in digital payments with continued strong growth in card payments, impressive smartphone penetration and improved digital literacy. The industry’s New Payments Platform will provide a stimulus for yet more innovation,” said Dr Fourie. 

    The Report notes that the New Payments Platform, new national infrastructure for fast, flexible, data-rich payments, will further support the transition to digital payments. Other industry and government initiatives noted in the Report include:

    • The Australian Payments Council’s initiatives set out in the Australian Payments Plan

    • Electronic conveyancing for property settlement through the PEXA service

    • Government’s SuperStream for the superannuation system 

    The Milestones Report and accompanying infographic are available at www.apca.com.au.

    ENDS

    1.  APCA releases regular Milestones Reports to review progress against the action plan it published in May 2012. See “The Decline of Cheques: Building a Bridge to the Digital Economy” 

    Media Contact: Ida Turner, APCA Communications Tel: (02) 9216 4817 Mob: 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 Facsimile +61 2 9221 8057 www.apca.com.au 

  • Payments Fraud

    Card fraud is increasing online, as chip technology continues to prove effective in tackling counterfeit fraud.

    Media Release

    18 August 2016

    Payments fraud in Australia

     

    The payments fraud report released today by the Australian Payments Clearing Association (APCA), the payments industry self-regulatory body, shows that card fraud is increasing online, as chip technology continues to prove effective in tackling counterfeit fraud in Australia.

    “Australia Payments Fraud – Details and Data” shows that of the $1.92 trillion Australians spent on cheques and cards in 2015, 0.025% or $469 million worth of transactions were fraudulent.

    Australia’s rate of card fraud increased from 58.8 cents in 2014 to 66.8 cents per $1,000 spent, driven by a 21% increase in card not present (CNP) fraud. The increase in card fraud is in line with global trends; card fraud in the UK increased from 75 pence in 2014 to 83 pence per £1,000 in 2015.

    CNP fraud occurs when card details are stolen and then used to make purchases or other payments without the card, mainly online. CNP fraud – domestically and overseas - now accounts for 79% of all Australian card fraud by value, up from 77% in 2014. 

    On Australian cards used overseas:

    • Counterfeit and skimming fraud increased by 77% to $28.1 million
    • CNP fraud increased by 13% to $226.3 million

    Acting APCA CEO Andy White said: “As the US progressively rolls-out chip technology, criminals are targeting those terminals that are still mag stripe only and Australian cards have been caught up in this fraud. Large-scale data breaches are also contributing to the growing level of online card fraud.” 

    On Australian cards used domestically:

    • Counterfeit / skimming fraud dropped by 10% to $22.9 million
    • CNP fraud increased by 38% to $136.7 million. 

    “Counterfeit fraud is dropping in Australia as a result of chip technology and closer cooperation between financial institutions and law enforcement. Fraud is a constant battle and as the industry’s efforts prove effective in this channel, criminals are moving online.”

    “We’re actively working with financial institutions and card schemes - through our cards forum – to explore what an industry-wide solution to online fraud could look like, that could make a real difference in this space,” said Mr White. 

    The report outlines industry measures to prevent payments fraud including:

    • Reducing opportunities for sensitive card data to be stolen – through tokenisation and continued efforts by merchants and service providers to comply with global security standards for cards.
    • Identifying and stopping fraudulent payments in real-time – through chip technology and dedicated analytics tools.
    • Authenticating the cardholder – increasingly through one-time passwords and biometrics and the mandatory use of PINs for card present transactions. 

    “Consumers can do simple things to help prevent online card fraud like keeping their PC security up to date and looking for the padlock before entering card details to make sure the website is secure,” said Mr White.

    Australian consumers are protected from personal loss caused by fraud and will be refunded as long as they have taken due care with their confidential data.

    “Australia Payments Fraud – Details and Data” is available at www.apca.com.au

    ENDS

    Media Contact: Ida Turner, APCA Communications Tel: (02) 9216 4817 Mob: 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 Facsimile +61 2 9221 8057 www.apca.com.au

     

    Tips on how to protect against online card fraud

    Tips for consumers:

    • Always keep your PC security software up-to-date and do a full scan often.

    • Only provide your card details on secure websites - look for the locked padlock.

    • Register for, and use your financial institution’s online fraud prevention solutions whenever prompted.

    • Check your account statements and report any suspicious transactions to your financial institution.

    Tips for retailers:

    • Use a fully hosted payment gateway provider to collect payments on your behalf.

    • Watch for suspicious orders. Is the order unusually large for your business? Is the customer trying

      various cards in order to make a successful payment?

    • Avoid shipping re-saleable goods to a temporary address (e.g. hotel) or to a PO box number.

    • Never take payments on behalf of any other business or person.

    • Only make refunds to the card originally used to pay for the goods.

    • Take advantage of the tools available such as online authentication methods – American Express SafeKey, Mastercard SecureCode and Verified by Visa. 

  • A New CEO

    Dr Leila Fourie is appointed the new Chief Executive Officer effective September 2016.

    MEDIA RELEASE

    06 July 2016

    APCA APPOINTS NEW CEO

     

    Dr Leila Fourie has been announced as the new CEO of the Australian Payments Clearing Association, the self-regulatory body for the payments industry.

    Dr Fourie’s business career spans more than 20 years working in consulting, investment banking, retail banking & capital markets. Her diverse experience has been acquired in some of South Africa’s leading companies in these fields, including Accenture, Standard Bank and the Johannesburg Stock Exchange (JSE).

    Dr Fourie joins APCA from the JSE where she served on the board as executive director. Prior to this, Dr Fourie was Managing Director of the Card Division of Africa's largest bank, Standard Bank.

    Rob Craig, Chair of APCA said, “We are excited to welcome Leila, who has a strong track record of driving change, and guiding industry-wide initiatives. The payments system is evolving rapidly and Leila is well-placed to lead industry through this time of change.”

    Through the course of her career, Dr Fourie has held senior executive positions and directorships of global portfolios, SA boards and US boards and has also served in the capacity as chairman of the board. Dr Fourie holds a PhD in Economic and Financial Sciences.

    During her tenure at the JSE, Dr Fourie was instrumental in shaping and leading strategic transformations that have improved performance and changed the direction of the
    business. Her key contributions include leading and sponsoring a number of critical industry-wide initiatives, including the national flagship T+3 settlements project for financial markets in South Africa.

    “I am thrilled to be joining APCA at this exciting time in Australian payments and I look forward to engaging the market and making a contribution to the future payments ecosystem," said Dr Fourie.

    Dr Fourie’s appointment is effective 12 September 2016. Andy White will continue his role as acting CEO until this time.

    Dr Fourie replaces Chris Hamilton, who announced his resignation in February 2016 before leaving the organisation in early May 2016. 

    ENDS

    Media Contact: Ida Turner - APCA Communications Tel: (02) 9216 4817 Mob: 0409 716 556 

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Tel +61 2 9216 4888 Facsimile +61 2 9221 8057 www.apca.com.au

  • NPP Australia

    Appoints Adrian Lovney as the inaugural Chief Executive Officer

    MEDIA RELEASE

    14 June 2016

    NPP Australia appoints inaugural CEO

    NPP Australia Limited, the company formed by the payments industry to build and operate the New Payments Platform, announced today the appointment of Adrian Lovney as its inaugural Chief Executive Officer.

    Mr Lovney brings a wealth of experience and in-depth knowledge of payments from a business and stakeholder perspective, together with strong leadership skills.

    Mr Lovney is currently General Manager of Product & Service at Cuscal Ltd with responsibility for product, services, and customers across the business, including leading the organisation’s work in NPP.

    Previously, he was Cuscal’s General Manager Strategy & Communications, responsible for leading the evolution of Cuscal’s business over the last five years as well as the successful migration and transition of customers to a new and innovative payments platform.

    NPP Australia Chairman Paul Lahiff said, “Adrian is an energetic leader with a passion for leading large-scale transition programs and is well-equipped to head up the commercialisation of the NPP.”

    “Adrian emerged as the outstanding candidate from an extensive domestic and global search process and the NPPA Board is delighted to have secured his services,” Mr Lahiff said.

    Mr Lovney said, “I am honoured to be taking on this important role at this critical stage in the development of Australia’s New Payments Platform. The NPP is a uniquely Australian take on the real-time payments infrastructure being implemented overseas. Its layered business architecture will deliver scale and efficiency while supporting a diverse range of fast payments well into the future.

    “These are exciting times and I am thrilled to be able to work with the NPP Australia Board and shareholders of NPP to help them realise the benefits of the investment they have made in this new payments system for Australia,” Mr Lovney said.

    Mr Lovney’s appointment takes effect on 5 September 2016.

    ENDS

    About the New Payments Platform

    The New Payments Platform (NPP) is new national infrastructure for Australia’s low-value payments. It will provide Australian businesses and consumers with a fast, flexible, data-rich payments system for making their everyday payments. The NPP is on track for being operational in the second half of 2017. More here.

    Media Contact: Ida Turner, Manager Communications P: (02) 9216 4817 M: 0409 716 556

    Further information available at www.apca.com.au 

  • NPP Australia

    Announcing new shareholder HSBC Bank Australia

    MEDIA RELEASE

    16 May 2016

    NPP Australia welcomes new shareholder

     

    NPP Australia Limited, the independent company formed by the payments industry to build and operate the New Payments Platform, announced today that HSBC Bank Australia Limited has become its newest shareholder and program participant.

    The New Payments Platform (NPP) is new national infrastructure for fast, flexible, data-rich payments. It will be open to all authorised deposit-taking institutions so they can offer innovative, real-time payments services to their customers.

    NPP Australia Chairman Paul Lahiff said that the company was delighted to have leading international bank HSBC on board.

    “HSBC brings a strong customer base and international perspective to the NPP. In becoming a shareholder, it is demonstrating its commitment to the future of real-time payments in Australia”, said Mr Lahiff.

    Head of Payments and Cash Management for HSBC in Australia, Simon Babbage, said: “Our partnership with NPP Australia demonstrates HSBC’s commitment to growing its franchise in Australia - a priority market for the bank globally. We are delighted to be part of this major industry initiative and welcome the prospect of providing our corporate and retail clients in Australia with real-time payments.”

    NPP Australia Limited was formed in December 2014. HSBC is the first additional shareholder to join the company’s 12 founding members, which are: 

    • Australia and New Zealand Banking Group Limited
    • Australian Settlements Limited
    • Bendigo and Adelaide Bank Limited 
    • Citigroup Pty Ltd
    • Commonwealth Bank of Australia
    • Cuscal Limited
    • Indue Ltd
    • ING DIRECT
    • Macquarie Bank Limited
    • National Australia Bank Limited
    • Reserve Bank of Australia
    • Westpac Banking Corporation 

    The NPP is on track to be operational in the second half of 2017. 

    ENDS

     

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

    Further information available at www.apca.com.au

     

  • Towards a Digital Economy

    The growing digital economy is accelerating the decline in cheque use. 

    MEDIA RELEASE

    20 April 2016

    The Rise of Digital Payments

     

    The Milestones Report(1) released today by the Australian Payments Clearing Association, the payments industry self-regulatory body shows that the growing digital economy is accelerating the decline in cheque use.

    Today’s report shows that Australians used 16.3% fewer cheques in 2015 than 2014. This compares to a 14.3% drop in 2014. Over the last 10 years, cheque use has dropped by a compelling 71%.

    Cash use also continues to decline, with the number of ATM withdrawals down by 5.5% in 2015 has dropped 4.7% in 2014.

    Australian businesses and consumers are increasingly choosing to use electronic payments in place of cheques and cash. Cards and other electronic payments continued to grow strongly in 2015:

    •   Direct entry transactions were up 6.3% in volume and 3.5% in value
    •   Card payments were up 11.1% in volume and 6.8% in value

    APCA CEO, Chris Hamilton said, “The decline in cheque use is a global phenomenon, but we are seeing a faster drop than many other countries.”

    According to the latest Business International Settlements report, between 2010 and 2014 cheque use dropped by 42.1% in the United Kingdom, 22.6% in Canada and 20.5% in France. This compares to 42.8% in Australia.

    Providing context for the sustained growth of digital payments, the report highlights that:

    • Australia is fifth in the world for smartphone banking uptake
    • 86% of Australian households have internet access
    • 72% of home internet users access banking services
    • Online retail continues to grow, up by 11.2% to $19.1 billion in 2015

    “Our lives are increasingly digital and as more services in both the public and private sector move online, it follows that Australians will choose digital payment methods.”

    “We are seeing significant innovation in the field of payments currently and the industry’s New Payments Platform - designed to support fast, flexible data-rich payments - provides important infrastructure for future evolution”, said Mr Hamilton.

    Today’s Milestones Report provides updates on industry and government initiatives to support this evolution including:

    • Progress on the Australian Payments Council’s initiatives set out in the Australian Payments Plan
    • Electronic conveyancing for property settlement through the PEXA service
    • The Government’s SuperStream for the superannuation system

    The Milestones Report and accompanying infographic are available at www.apca.com.au

    ENDS

     

    1. APCA releases regular Milestones Reports to review progress against the action plan published in May 2012. See “The Decline of Cheques: Building a Bridge to the Digital Economy”

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Facsimile +61 2 9221 8057 www.apca.com.au 

     

     

  • Payments Fraud

    CNP fraud on Australian cards is increasing, reflecting a global trend in online card fraud and in cybercrime in general. 

    MEDIA RELEASE

    14 December 2015

    Payments fraud trends show increase in card fraud over the internet

    The interim payments fraud data released today by the Australian Payments Clearing Association provide a timely reminder to Australians to remain vigilant when shopping online over the busy holiday period.

    Today’s figures for the 12 months to 30 June 2015 reflect the trends reported in Australian Payments Fraud – Details and Data for 2014, released by APCA in June 2015. Fraud on Australian payment cards continues to increase in the card-not-present space, reflecting a global trend both in online card fraud and in cybercrime in general.

    The interim release shows that the rate of fraud on Australian payment cards increased from 53.6c to 60.3c in every $1,000 spent. Card-not-present fraud accounted for 80% of all Australian card fraud having increased from $256.5 million to $322.7 million over the 12 month period. Australians spent a total of $672.5 billion on their cards over that time.

    APCA CEO Chris Hamilton said, “With the holiday season just around the corner, many of us will be doing our Christmas shopping and taking advantage of the New Year sales over the internet. Today’s figures should be a reminder that criminals are also looking for opportunities and we need to be vigilant.”

    Financial institutions are taking steps to extend the authentication techniques used for online banking to the card-not-present space to reduce the risk of fraud when shopping over the internet.

    “If you use your card online, it‘s vital that you take advantage of all the security features already offered by your financial institution, such as one-time passwords,” said Mr Hamilton.

    Consumers can take simple steps to help protect against online card fraud including:

    • registering their contact details, such as mobile phone number, with their financial institution so they can receive alerts and passwords when prompted by websites
    • 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
    • regularly checking their statements and reporting any unusual transactions to their financial institution immediately

    The interim release shows a drop in other card fraud categories:

    • fraud on Lost /Stolen cards dropped from $33.1 million to $31.8 million
    • Counterfeit/Skimming fraud dropped from $42.1 million to $39.2 million

    “Financial institutions and law enforcement have been working together to target skimming at ATMs and in taxis and this, together with the industry’s progressive roll-out of chip-reading at ATMs, is starting to reflect in the fraud data. Cardholders can help these efforts by always protecting their PINs and treating their cards like cash,” said Mr Hamilton.

    Australians are not liable for any fraudulent transactions on their payment cards and will be reimbursed as long as they have taken due care.

    The interim fraud data release is available at www.apca.com.au. Comprehensive payments fraud data for 2015 will be released in mid-2016. 

    ENDS

    Media contact: Ida Turner – Public Affairs P: (02) 9216 4817 M: 0409 716 556

    For further information visit: APCA website: Get Smart About Card Fraud Online; Protect Your Pin; Safeguard Against Skimming

    ACCC website: SCAMwatch

    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