ONE in four Australians have fallen victim to credit card thieves who pilfer hundreds of millions of dollars a year from unsuspecting cardholders.

Thieves swipe millions off cards.

ONE in four Australians have fallen victim to credit card thieves who pilfer hundreds of millions of dollars a year from unsuspecting cardholders.

Latest research released by creditcardfinder.com.au has found 25 per cent of Australians have experienced card fraud and of those almost one in two had up to $300 stolen.

Reserve Bank of Australia figures show there are more than 15.2 million credit cards nationally and in February they were used more than 117 million times.

Creditcardfinder’s publisher Jeremy Cabral says about 25 per cent of card users had more than $1000 stolen at one time, but he says there are some simple ways to try to protect yourself.

“Consumers need to be very careful as to where they store their credit card details,” he says.

“It’s worth keeping a log of where you keep your credit card details.

“Australians are generally not as cautious as they should be around the internet with their information.”

Australian Payments and Clearing Association statistics found in the 2011-12 financial year there were more than 1.16 million fraudulent transactions on scheme credit, debit and charge cards totalling more than $262 million.

This increased from the previous financial year when more than 915,000 fraudulent transactions were made worth more than $227 million.

Cabral says plastic users should thoroughly read their credit card statements each month to ensure no fraud has taken place without them knowing.

“Any activity on your credit card will be recorded on your monthly statement,” he says.

“If you are checking it regularly there’s so many benefits beyond that, even credit card fraud itself.

“This includes how much you are spending and direct debits that need to be cancelled.”

He also says to stay alert when using an ATM, take a good look around while making a transaction and ensure you cover your hand when entering a PIN.

SOURCE: news.com.au