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.