CREDIT CARD FRAUD

Just over a third (34.4%) of persons experiencing credit card fraud reported experiencing two or more incidents in the 12 months prior to interview. The majority of all victims of credit card fraud (94.6%) specified that only one card was fraudulently used.

Just over half of all victims of credit card fraud (54.5%) were informed of the fraudulent use of their credit card by an agency. Every second victim (50.3%) was informed by a bank or financial institution, 8.3% were informed by a credit card company, and under 1.0% of victims were informed by the police, consumer affairs/ombudsman, or other agency.

Approximately half (49.9%) of all credit card fraud victims reported the incident to an agency. The agency most commonly reported to was a bank or financial institution, with 41.7% of credit card fraud victims reporting to a bank or financial institution. Approximately one in five victims reported the incident to a credit card company (20.1%), and one in ten to the police (11.0%).

Just under three-quarters of victims (72.4%) sought reimbursement from their card issuers, with just under two-thirds of victims receiving reimbursement (64.0%).

Nearly all victims of credit card fraud (95.5%) had money fraudulently transacted on their cards. Around a third of victims had between $1-$100 fraudulently transacted (34.9%), over a quarter had between $101-$500 fraudulently transacted (28.1%), 13.2% had between $501- $1,000 fraudulently transacted, 18.8% had $1,001-$5,000 fraudulently transacted, and 4.5% had $5,001 or more fraudulently transacted.


One in three victims (33.2%) indicated that they had lost money even after receiving reimbursement, with 15.2% of victims losing $100 or less, 9.1% losing between $101-$500, 4.2% losing between $501-$1,000, and 4.8% losing over $1,000.

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