Michel van Aalten, Adyen country manager ANZ
According to the Australian Payments Network, payment fraud on Australian credit cards hit $476 million in 2017, surging from $218.1 million in 2016. As of 2018, online card fraud now accounts for 85 per cent of all card fraud in Australia.
Retailers worldwide are set to lose some US$130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023, according to a new report highlighting the use of increasingly complex approaches by fraudsters.
Having organisations break down historic barriers and more proactively share data and risks helps the industry as a whole do a better job collectively in identifying fraud, Stewart Bradley says.
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