Report: Credit card and bank fraud numbers top 380,000

Credit card and bank fraud figures in Australia numbered above 380,000 during the second half of 2007, making them the most popular ID scams in the country.

Figures from the Australian Bureau of Statistics (ABS) show that over five per cent of Australians aged 15 and over fell victim to personal fraud last year (800,000 people).

The ABS 2007 Personal Fraud Survey estimates that the total cost of scams and personal fraud for the second half of the year was almost $1 billion, with credit and bank card fraud accounting for more than 380,000 instances.

Carried out between July and December 2007, the research also reveals that the mean average loss for victims of personal fraud and scams over the period was $2,000 per person, while three per cent of victims lost more than $10,000.

People in Western Australia were found to be most likely to fall victim to personal fraud (3.5 per cent), while those in South Australia were least likely (2.2 per cent).

The ABS report states that "personal fraud has been recognised as a crime type that is a growing threat to the community, as a result of the rapid expansion and availability of internet technology and the increase in electronic storage, transmission and sharing of data".

Of the more than 800,000 people who fell victim to personal fraud in Australia last year, 453,100 lost money as a result, 77 per cent of whom reported fraudulent transactions on bank or credit cards.

The ABS poll asked 14,320 respondents about their experiences of fraud over the previous 12 months.

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