One in 6 Australians have had their credit card skimmed in the past year, according to alarming new research from comparison site Finder.
From a survey of 1,049 Australians, Finder found 17 per cent had their credit or debit card number stolen in the past 12 months and used by somebody else.
That equates to 3.6 million people across the country.
Card skimming can occur in several ways with criminals using unsecure public networks, card skimming machines, card skimmers attached to ATMs and via scam calls, texts and emails.
But despite the high number of people being caught out, Finder says only one in 10 are reporting the incident.
The research found for 7 per cent of respondents this is not the first time their credit card details have been compromised.
“It seems almost impossible for someone to steal your credentials without having your physical card, but it happens quite often,” says Rebecca Pike, money expert at Finder.
“Phishing is one of the most common schemes scammers will use to coerce you into providing your credit card information willingly, but there are also a number of other ways scammers are targeting vulnerable individuals.
“Unsecure public wi-fi networks, as well as card skimming machines are also responsible for allowing thieves to copy card information and use it to make fraudulent purchases.”
Scammers are resorting two new and more sophisticated methods of obtaining credit card information, so users needs to vigilantly check their account activity.
“Check your account activity frequently so you can report something suspicious as soon as it happens,” Pike says.
“Opt in to receive alerts when you make transactions – most companies have fraud detection systems in place to notify you if they suspect a suspicious charge.
“Take every step you can to minimise the risk – don’t save passwords on sites, be really certain you can trust anywhere you enter your card into and check ATMs for skimmers.
“Importantly, don’t give your card information to anyone over the phone or via text or email – if someone calls and asks for your number over the phone, assume it’s a scam.”
Finder’s tips on how to spot card fraud:
– Monitor your account regularly: Check your statements and online account for unauthorised charges or unusual activity.
– Be wary of phishing attempts: Avoid clicking on suspicious links and never provide sensitive information over the phone or email.
– Protect your card information: Guard your card physically, be mindful of online purchases, and avoid sharing card details.
– Be alert to unusual activity: Watch for suspicious charges, pay attention to small transactions, and report suspicious activity immediately.
– Use strong passwords: Create complex passwords, avoid using easily guessable information, and change your passwords regularly.
