Australia’s competition regulator the ACCC has raised concerns over customer loyalty schemes including poor disclosure about how consumer data is used and shared, and the selling of insights from the data to other parties without consumer knowledge.
Researchers from Cisco's Talos Intelligence Group say they have found 74 groups on Facebook where the members promised they would carry out questionable cyber dirty deeds, including selling and trading stolen bank/credit card information, theft and sale of account credentials from a variety of sites, and email spamming tools and services.
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.
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