University Research Report: Credit Card Fraud in Australia Analysis

This research report investigates the escalating issue of credit card fraud in Australia, prompted by a case study highlighting significant financial losses. The study aims to understand the causes of this fraud, particularly in the context of online shopping and the increasing cashless society, with a focus on primary research methods. The report outlines a detailed research methodology, including exploratory research design, questionnaire design incorporating both open-ended and close-ended questions, and data collection methods involving surveys and interviews. The sampling strategy employs a combination of simple random and convenience sampling techniques to gather data from Bank A customers and organizational members. The report details the data analysis plan, budget, and timeline for the study, culminating in a survey questionnaire. The research seeks to identify the impact of credit card fraud, analyze its underlying causes, and propose strategies for resolution, offering valuable insights for individuals, future scholars, and stakeholders in the financial sector.

Running head: FOUNDATIONS OF BUSINESS ANALYSIS
Foundations of business analysis
Name of the Student
Name of the University
Author Note

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Table of Content
1. Introduction............................................................................................................................2
1.2 Problem Statement...........................................................................................................2
1.3 Purpose of the Research...................................................................................................3
1.4 Research Aim and Objectives..........................................................................................3
1.5 Research Questions..........................................................................................................3
1.6 Significance of the study..................................................................................................3
2.0 Research Methodology.....................................................................................................4
2.1 Research Design...............................................................................................................4
2.2 Questionnaire Design.......................................................................................................4
2.3 Research Instrument.........................................................................................................5
2.4 Data collection method....................................................................................................5
2.5 Sampling method.............................................................................................................6
2.6 Data Analysis...................................................................................................................7
2.7 Budget and Timeline........................................................................................................7
Survey Questionnaire (Quantitative)........................................................................................10
Dummy Table...........................................................................................................................11
References................................................................................................................................12

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Topic- Australians lost almost half a billion dollars in credit card fraud in a single year
1. Introduction
This research report is a proposed research work on the issue of increasing rate of fraudulent
behaviours in the use of credit card in Australia. The research is considered to be performed
on case scenario describing the increasing rate of forgery in credit card which causes a
million dollar loss in credit card in a single year. The purpose of the research is to critically
investigate the issues causing a huge financial loss of people in Australia. A primary research
will be performed on the stated issues. The entire research work revolves around the scenario
related to credit card given in the case study. Following section describes the problems in
detail and research questions. Research techniques stated in the report are appropriate and all
of the chosen methods have been justified appropriately.
1.2 Problem Statement
In the wake of technology advances, disruption in banking sector has become a certain
incident causing the increasing presence of credit card theft across the nation. Due to
technology advances in the banking sector, people in Australia are fond of online shopping
but unexpectedly the cashless society in the country has experienced explosion in credit card
frauds. According to the data derived by finder.com the incident of “card not present” fraud
increased to 75% in last one year (New.com, 2019). The volume of credit card fraud is
enormous. Prior investigations on the issues confirm the fact that frauds particularly develops
dodgy websites in a way that subject people might think the websites are real and they
continue their activities and eventually, they end up giving all personal details. Consequently,
their credit cards are found to be cloned by some anonymous users (Cross, Smith & Richards,
2014). If this issue persistently takes its toll on people, the overall loss of economy could be
huge.

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1.3 Purpose of the Research
The purpose of the study is to identify and investigate the growing rate of credit card
fraud in Australia. To meet the purpose, the proposed study is supposed to identify the
background reasons for such fraudulent activities that often occur when customers are using
their credit cards for online shopping and in the offline outlets.
1.4 Research Aim and Objectives
The aim of the research is to identify and investigate the issue of credit card fraud in
Australia. Following are the key objectives to meet the stated aim.
 To critically investigate the issue of credit card fraud in Australia
 To analyse the impact of credit card frauds on people in Australia
 To develop suitable strategies for addressing the issue of credit card fraud
1.5 Research Questions
 What is the impact of credit card fraud on people in Australia?
 How can the issue of credit card fraud be resolved in Australia?
1.6 Significance of the study
The proposed study on the issue of credit card fraud in Australia will benefit different
parties who are directly and indirectly associated with the study. Outcome of the study will
unveil the reasons for credit card fraud –such as when and how it occurs and what measures
should be taken to prevent such growing rate of credit card frauds across the nation. The
outcome of the study could make people aware of such fraudulent behaviour of anonymous
users. Moreover, future scholars when performing an extended study on the stated issue can
use this paper as the supporting materials.

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2.0 Research Methodology
2.1 Research Design
Research Design is the overall strategy which is chosen to integrate different components of
the study in a most coherent as well as logical way; thus, this ensures that research issues will
be effectively addressed. Research design can be of three different types of exploratory,
explanatory and descriptive research design. According to Mackey and Gass (2015)
exploratory research design is mainly used to investigate issues or the issues that are not
clearly defined. This means this research design is applied to have better understanding about
the problems. In the proposed study, exploratory research design will be applied to
investigate the issue of credit card fraud in more detail, as it is an existing issue but creating
growing impact on people. In addition, both qualitative and quantitative data can be collected
to investigate the issue. On the other side, descriptive research design is more of a scientific
method which could involve observation and describing the behaviour of the context. In
addition to this. Descriptive research design is associated with formation of research
hypothesis, which means that hypothesis needs to be tested and verified. However, the
present study is not required to be based on the development of hypothesis.
2.2 Questionnaire Design
According to Taylor, Bogdan and DeVault (2015), questionnaire design is the most
significant part of the data collection process as it is rather a multi-stage technique which
requires attention to several at once. In the proposed study, survey and interview
questionnaire revolves around the topic which is –credit card issues but different opinions
will be taken. There are two different types of questionnaire namely open-ended and close-
ended questionnaire and both of these types will be used in the proposed study to
investigate and analyse the stated issues. The study will engage the customers of Bank A and
to survey them, a close-ended questionnaire will be developed in which each question has

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multiple choices to choose. Almost 10 different close ended questions will be developed for
the survey. Likewise, open-ended questionnaire will also be developed; according to Flick
(2015) open-ended questionnaire are descriptive in characteristics of how and why. Thus, to
collect qualitative data from the organizational members of Bank A, open-ended
questionnaire will be developed.
2.3 Research Instrument
First the questionnaire will be developed according to the process mentioned above.
Thereafter, the questionnaire will be distributed to the respondents using their personal
details. When surveying the consumers of the bank, questionnaire will be distributed through
their personal emails, while the open-ended questionnaire will be distributed to organizational
members by hand. However, before applying the process, respondents’ consent will be taken.
2.4 Data collection method
Data collection method is usually divided into two different categories namely primary data
collection and secondary data collection method (Vaioleti, 2016). In the proposed study,
primary data collection method is considered to be appropriate and thus, they will be used
accordingly. Primary data collection method is divided into two different categories namely
qualitative data collection and quantitative data collection. It has been identified that
quantitative data collection method is more mathematical calculations which reside in
different formats. According to Lindlof and Taylor (2017) quantitative data collection as well
as analysis could include questionnaire with the close ended questions, techniques of
correlation, regression, mean, mode and media. In the proposed study, quantitative data will
be collected and performed converting the data into numerical format.
Both methods in the study will be used; qualitative data will be collected by
performing interview among organizational members and quantitative data will be gathered

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by performing survey among the consumers of Bank A. Selection of the respondents will be
determined on the basis of sampling method given in the following. Qualitative data on the
other hand, do not include numbers or any sort of mathematical calculations. Qualitative data
is majorly associated with words, feelings, sounds and emotions as well as other elements
that are non-quantifiable. In the proposed study, qualitative data in the proposed study will be
collected from supervisors of Bank A Australia and the data will be further analysed with the
findings found in the existing studies.
In the proposed study, secondary data will not be used because secondary data would
only provide existing views and outcome of the cases but the research is an emerging one
which require attention. Moreover, the issue needs to be analysed with first-hand information.
Instead of relying on the existing facts and finding, it is highly important to depend on the
real-world issues. So, experience of the individuals who have expedient credit card fraud is
more than the assumptions. Thus, secondary data might not be appropriate for the proposed
study.
2.5 Sampling method
Sampling method consists of two major categories namely probability sampling method
and non-probability sampling method (Bresler & Stake, 2017). To choose respondents for
survey, probability sampling method will be used because by using this method, consumers
can be selected on random basis. Thus, for performing the survey, simple random probability
sampling method will be used, while to interview the organizational members, non-
probability convenient sampling method will be applied because the availability of
organizational members should be ensured. Target population: As put forward by Vaioleti
(2016) target population is particularly referred to a particular segment within broader

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population which is there to be used as primary data source for the study. In the case of
proposed study, target population is the consumers of Bank A who takes the services of the
organization in Australia. So, this means target population consists of individuals who reside
in Australia and take the service of Bank A.
Selection of the sampling frame: Sampling frame is broadly known as the list of people
within the target population who tend to contribute to data collection of the study. Hence, for
the proposed study, sampling frame involves the extensive list of consumes of Bank A in
Australia, who will be taken from the target population mentioned above. So, considering the
criteria, individuals fit the sampling frame are the extensive list of people from the total
number of consumers of Bank A, Australia. So, the sampling frame in the proposed study
consists of 60 individuals of the organization.
Sample size: Sample is the specific number of individuals particularly taken from the
sampling frame who eventually take part in data collection process. So, sample size selected
for the proposed study is 50 individual which mean 50 consumers of Bank A will be
surveyed. On the other side, for performing interview, non-probability sampling method
involves 5 supervisors of Bank A Australia.
2.6 Data Analysis
For analysing the quantitative, the collected data will first be converted into
meaningful data through the application rational and critical thinking. Data will be presented
with graph and table for the interpretation and then the data will be linked to the findings of
literature review. On the other side, qualitative data will be analysed with narrative data
analysis method.
2.7 Budget and Timeline
Main activities/ stages Week1 Week2 Week3 Week4 Week5 Week 6

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Topic Selection 
Data collection from
secondary sources
 
Framing layout of the
research

Literature review   
Formation of the research
Plan
 
Selection of the Appropriate
Research Techniques
 
Primary data collection  
Analysis & Interpretation of
Data Collection
 
Conclusion of the Study 
Formation of Rough Draft 
Submission of Final Work 
Budget
Activities Cost

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Collection of journal
articles
$100
Transportation to agencies $100
Buy official newspaper
articles
$50
Instruments: Laptop, audio
and video devices, papers,
pen
$4000
Total AUD$4250

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Survey Questionnaire (Quantitative)
1. For how long have you been using your credit card?
2. How often do you use your credit card for shopping or making purchases?
3. How many times have you experienced anonymous attack in your credit card?
4. Do you use your credit card in online shopping?
5. Has your credit card ever been cloned before by anonymous user?
6. If your answer is yes in the above question, did your bank compensate you with
the money as reimbursement?
7. You are? Choose from the following
8. Your age?
9. Your gender?
10. For how long have you been the customer of Bank A?

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Dummy Table
1.How many times have you experienced anonymous attack in your credit card?
Age One time Twice Thrice Never
experienced
18-24
25-34
35-44
45-54
55-64

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References
Bresler, L., & Stake, R. E. (2017). Qualitative research methodology in music education.
In Critical Essays in Music Education (pp. 113-128). Routledge.
Cross, C., Smith, R. G., & Richards, K. (2014). Challenges of responding to online fraud
victimisation in Australia. Trends & Issues in Crime and Criminal Justice, 474.
Flick, U. (2015). Introducing research methodology: A beginner's guide to doing a research
project. Sage.
Mackey, A., & Gass, S. M. (2015). Second language research: Methodology and design.
Routledge.
New.com. (2019). Credit card fraud is skyrocketing in Australia. Here’s how to protect your
plastic. Retrieved from https://www.news.com.au/finance/australians-lost-almost-
half-a-billion-dollars-in-credit-card-fraud-in-a-single-year/news-story/
562e11ac746d8f7472957bead70d13f7
Lindlof, T. R., & Taylor, B. C. (2017). Qualitative communication research methods. Sage
publications.
Seeja, K. R., & Zareapoor, M. (2014). FraudMiner: A novel credit card fraud detection model
based on frequent itemset mining. The Scientific World Journal, 2014.
Taylor, S. J., Bogdan, R., & DeVault, M. (2015). Introduction to qualitative research
methods: A guidebook and resource. John Wiley & Sons.
Vaioleti, T. M. (2016). Talanoa research methodology: A developing position on Pacific
research. Waikato Journal of Education, 12(1).

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