Scams and fraud are on the rise in Australia. More than 13 million people were exposed to some type of scam from 2021 to 2022, which marked a 10% increase from the previous year.1 In 2022 alone, scams cost Australians more than $3.1 billion, up from $2 billion in 2021.2
From credit card fraud to identity theft, fraud generally refers to any deliberate and deceptive act committed to gain an unfair or unlawful advantage. It commonly encompasses various forms of deceit, including financial, identity, insurance, online, and retail fraud, among others.3
Understanding the different types of fraud, and the protection and prevention measures can help safeguard your sensitive information.
Common types of fraud include:
Types of fraud protection include:
Secure payment methods: Using secure payment methods like PayPal can help prevent fraud by keeping your financial information secure and encrypted. Your eligible purchase could also be protected under PayPal’s Buyer Protection Program.
Some of the ways fraud protection services can help keep you safe include:
To harden their defences against fraud, individuals can:
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