Already in Australia, annual losses arising from payment card fraud amount to around $ million, much of which comes from online payments where the card is not physically present. [4] The ability for individuals representing either themselves or their organisations to properly and reliably identify themselves online is essential for security as we increasingly move to online transactions.
In January 2012 we forecast a 1.5 per cent drop in GDP (0.4 per cent under a less unfavourable scenario) for 2012 and 2013; in the summer this forecast was revised to 2.2 per cent; in the end, the decline amounted to 4.5 per cent.