Credit card fraud 'prevention' technology rolled out in Australia

A new system designed to help prevent credit card fraud is set to be released in Australia.

New software designed to prevent credit card fraud is being rolled out in Australia.

The National Australia Bank is behind the implementation of the Bank of New Zealand - its parent company - product into the country, the New Zealand Press Association reports.

And the technology has already reduced the rate of cloned credit cards in the country by 50 per cent.

Every time a bank account balance is requested at an ATM or a transaction takes place the liquid encryption number equipment gets to work by changing the numbers on a card's magnetic strip.

But jitter technology is also being used as an anti-skimming system, which is when a stop-start motion occurs after a card is inserted into a machine.

ANZ New Zealand's senior ATM channel manager, Mark Prestwood, told the BankInfoSecurity website it is a "very useful" device.

This news comes after ABC Perth noted one way individuals can check for skimming gadgets is to run their hand over the keypad of an ATM to see if it feels different to normal.

By Mark Hornby