Contactless Fraud Soars to Over £7m

Posted by gary 15/09/2014 0 Comment(s)

 

“The amount of money stolen from contactless bank cards and mobile devices has soared, it has emerged. Almost £7m was taken in 2016, compared to £2.8m in 2015, according to Financial Fraud Action UK.

 

In the same period, contactless spending rose from £7.75bn to £25.2bn.A judge recently slammed the technology, which does not require a PIN, for making life “too easy” for criminals during the sentencing of a fraudster in Devon.

 

Contactless cards can be used for transactions of up to £30.”

 

Source: BBC 26/05/17

 

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