Australians lost around $469 million to fraudulent transactions in 2015, according to a new report.

The report from the Australian Payments Clearing Association said the rate of card fraud went up from 58.8 cents in 2014 to 66.8 cents per $1,000 spent.

This included a 21 per cent increase in “card not present” (CNP) fraud; where card details are stolen and used for online purchases online.

“As the US progressively rolls-out chip technology, criminals are targeting those terminals that are still magnetic stripe only and Australian cards have been caught up in this fraud,” said acting chief executive Andy White.

“Large scale data breaches are also contributing to the growing level of online card fraud."

“Counterfeit fraud is dropping in Australia as a result of chip technology and closer cooperation between financial institutions and law enforcement,” Mr White added.

“Fraud is a constant battle and as the industry's efforts prove effective in this channel, criminals are moving online.”

APCA recommends keeping computer security up to date, only paying through secure websites, and keeping a close eye on account statements.