Friday, 26 May 2017

Contactless payment fraud soars to £7m

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.

BBC     News.