MAG Insights

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Australia's outsized digital fraud a red flag for retailers, networks, government

The vast majority of card fraud in post-EMV Australia affects digital payments, a trend that has prompted government action, expedited security projects, and financial pressure on banks from retailers.

While a migration to card not present (CNP) channels is typically expected after a chip card migration, nearly all card fraud in Australia is now CNP crime. In 2012, when the EMV liability shift took effect for merchant transactions in Australia, CNP fraud represented just 70 percent of that country’s total payment card fraud volume. Today it represents 85 percent of total Australian card fraud losses.

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