Australian Payments Clearing Association (APCA) data released this week shows online fraud continues to grow despite the overall rate remaining steady.
The main increase in credit and charge card fraud happened where the consumer was not present but rather used the Internet, phone or mail services to make a purchase (called card-not-present or CNP).
The APCA put the value of CNP fraud for the financial year to June 30 on Australian-issued cards at $82.16 million with just over $52 million occurring overseas. There were 332,396 instances of CNP fraud with 97,583 happening in Australia.
However, it was not clear from the statistics released what percentage of these occurred over the Internet.
Additionally, the value of fraud committed in Australia on cards issued overseas in the CNP category was just over $28 million from 110,065 instances.
The results are a rise on the previous financial year when CNP fraud was valued at $65.5 million from 220,053 instances. In the 2008 financial year there were 65,924 instances of CNP fraud in Australia for a value of $23.1 million.
On cards issued overseas, the value of fraud committed in Australia in 2008 compared to the most recent financial year was also lower at $25.13 million from 79,929 instances.
APCA CEO Chris Hamilton said the introduction of chip based authentication in credit and charge cards was contributing to the leveling off of skimming fraud where devices are attached to ATMs to steal personal data and produce duplicate cards.
"Chip transactions at point of sale are already commonplace, but we estimate it will take another three years before the rollout is complete," he said in a statement. "This major industry programme is clearly the key to combating card present fraud."