AI agents aren’t legally responsible for any harm that they cause, experts say. So who is?Read more“If you look at today, the stats, it’s over 90% of transactions are all contactless.“Now, no one even thinks of the risk around it. And we’ve covered the risk through the multitude of different type of certifications and compliance.”Card-related fraud losses were $2.2bn in the 2024-2025 financial year, according to the Australian Bureau of Statistics, which did not break down the number of incidents related to contactless payment fraud, when people unknowingly have their cards tapped for payment.Part of the acceptance of contactless may have been that, according to the ABS, nearly 78% of people who reported card-related fraud did not lose any money after reimbursements.There has also been a shift away from using physical cards.In March, the Reserve Bank of Australia reported that, in 2025, the number of people paying by tapping a card had declined from a peak in 2022 of nearly 80% to under 60%, with payment by devices such as phones or smartwatches increasing to nearly 40%.Explore more on these topicsAustralia newsBiometricsConsumer affairsnewsShareReuse this content
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