Protect Against Fraud


Australians make more than 7 billion transactions a year using cards and cheques, at a variety of locations including retail outlets, ATMs, online, over-the-counter and person to person.  These payments are vital to the smooth running of the economy. However, fraud does play a part in any payments system, and the industry is committed to ensuring it is kept to a very low level.

The industry uses a series of measures to keep fraud low, including strict security standards on payments terminals and ATMs, strong encryption for your PIN and card data, the increasing use of chip cards to make counterfeiting much harder and using other techniques such as an SMS to confirm your transaction is genuine.

Should fraud occur, sophisticated fraud identification systems that detect anomalies in transaction patterns and to take appropriate action to validate or reject a payment, allow financial institutions to keep losses relatively low.

Fraud in Banking Forum

APCA established the Fraud in Banking Forum in December 2013 to promote dialogue between Australia's financial institutions and the law enforcement communities. Read More

Protecting Yourself

There are things that you can and should do as well to protect against fraud.

As an account holder, you should always keep a close eye on your account – check your statements, check that the transactions listed are genuine, and advise your financial institution immediately if you see anything suspicious.

Remember, if you are a victim of payments fraud, the ePayments Code of Conduct means that you will not be left out of pocket where you have not contributed to the loss.

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