Credit Cards - New ID protection for Aussie credit users

New Australian banking laws extend new protection to Aussie credit card users.

Aussie credit card users could be granted extra identity protection in the coming months following plans announced by the government of New South Wales.

The Australian reports the plans to overhaul Australian banking laws, which aim to safeguard the identity of Aussie credit users in three different ways.

Possession of equipment that is intended to be used for identity theft is one, while possession and trafficking of identity data itself are also on the list.

Attorney-general John Hatzistergos tells the publication: "Under the new laws, it will be an offence to use everyday devices such as scanners, printers and laminators to produce fake identity documents."

He adds that the laws extend to other types of machines that accept a credit card Aussie consumers might use at Australian banking institutions.

For instance, fitting a skimmer to an ATM will fall under the remit of the legislation.

When using their debit or credit card Aussie shoppers or ATM users may feel more secure as a result.

However, it may still be wise to remain vigilant, as News.com.au recently reported that Queensland fraud squad's superintendent Brian Hay says Australia is a "land of milk and honey" for overseas credit card fraudsters.

Posted by Mark Hornby