In a speech concerning security, Nicola Rox, Attorney-General of Australia is quoted saying, “We’re no longer just dealing with guards and gates, bombs and bullets when we talk about defending our nation and its secrets. We’re now fairly and squarely working in an online environment. And this has created a whole new dimension of both opportunity and threat”.
Joining forces with the Romanian National Police, the AFP underwent a 17-month investigation that led to the detention of 16 Romanian gang members. Purchasing goods worth over $30 million, the gang members got access to 100 small retail outlets where the credit card details of up to 500,00 Australians were stored. The joint operation foiled what had the potential to be a $750 million fraud.
Despite the bust, AFP’s Manager for Cyber Crime Operations, Commander Glen McEwen has said that good policing was only part of the solution, “Credit cards need to be kept in a secure place, ATMs should be checked for any unusual attachments, personal details including PIN numbers should be protected, financial statements should be checked continuously and chip and pin security should be implemented on credit cards when possible.”
And remember, if you didn’t book an overnight stay at a 5-star hotel, get that checked out!
We’ve done our research and these are some of the most simple and most encouraged precautions you should take to avoid credit card fraud, according to the Federal Trade Commission.
Be smart, be safe!
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger.
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