Contactless card fraud RSS
According to figures from Action Fraud, the UK’s national fraud reporting service, contactless card fraud is surging. A total of £1.8 million was stolen by fraudsters from contactless users in 2018.... more
So, contactless card fraud hit £7m in the UK in 2016, up from £153k in 2014. Cue click-bait headlines about fraud soaring by almost 4,500%. When you dig a bit deeper, this is both mischievous scaremongering and quite misleading. contactless card, card fraud, contactless fraud, fraud Salacious spending spree Firstly, the article explains how contactless card theft allows [...]
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The UK’s FCA has set out measures to tackle contactless card fraud on contactless cards which have been reported lost or stolen. In a letter to the Treasury select committee, the Financial Conduct Authority (FCA) said consumer losses on contactless payments were relatively small but in some circumstances cards could be used by a fraudster several [...]
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Contactless card fraud has made headlines this year. In this post we take a look at some of the key myths and offer explanation to the realities. No. 1 myth: Data theft with long-range RFID readers This myth says that fraudsters would be able to use long-range RFID readers to extract data from contactless cards [...]
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Recent industry news has brought to light the issue of contactless card fraud relating. Contactless cards are increasingly popular in the UK, with the value of contactless purchases increasing by 232% in the past year to reach almost £1.9 billion in total. Although this take-up in the UK is significant – industry bodies say that [...]