Recent data from the Australian Payments Network has revealed that over 80% of Australia’s card fraud results from CNP (Card Not Present) transactions. In an initiative to combat such fraud, the Australian Payments Network is looking into measures such as multi-factor authentication, and dynamic CVV numbers.

https://mozo.com.au/credit-cards/articles/multi-factor-authentication-tabled-as-solution-to-australia-s-443-million-online-card-fraud-problem