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The AFP has stated that it "has identified the cause of the data compromise and an active investigation into the matter is continuing".

Credit unions and building societies have a range of security and monitoring measures in place to protect their customers against fraudulent transactions. When potentially fraudulent transactions are identified, credit unions and building societies take immediate action to protect their customers’ accounts.

"All customers are protected against fraudulent transactions on their accounts. If a fraud is proven, credit unions and building societies refund the customer’s loss in full and refer the matter to the police," said Mr Mark Degotardi, Acting CEO of Abacus – Australian Mutuals.

"This credit card data compromise has occurred at a series of independent merchants. It is not a breach caused by a compromise of computer systems at credit unions and building societies," said Mr Degotardi.

Credit unions and building societies take precautionary measures to prevent fraud before it occurs. These measures can include:

Cancelling and re-issuing cards that may have been compromised;

Blocking transactions from some merchants or in some locations; and

Ongoing monitoring of accounts to check for suspicious transactions.

"Credit unions and building societies will contact customers whose accounts may have been placed at risk by the merchant data compromise and may re-issue cards as a protective measure in some circumstances.

"Abacus encourages customers of credit unions and building societies to report any suspicious activity to their financial institution immediately. Customers that are inconvenienced by the cancellation of cards or blocking of transactions should also discuss any concerns with their financial institution," said Mr Degotardi.

Pamela Eldridge, Senior Adviser – Media, Abacus – Australian Mutuals

(02) 8299 9024; 0423 843 790; [email protected]