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Warning Issue over lost/stolen Contactless Cards

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Banks have admitted that thieves are able to use contactless cards even if they’ve been cancelled – sometimes months after being reported stolen.

 

RBS, Lloyds, HSBC, Barclays and Nationwide admitted that a ‘weakness in the system’ can allow fraudsters to use cards after they have been reported lost.

 

The ‘tap and pay’ cards allow purchases up to £30 without requiring a PIN number.

 

The problem stems from the fact that some shops complete purchases ‘offline’, without checking with the card issuer if a card is valid.

 

Instead of checking ‘live’, some shops store transactions and check batches at the end of the day, meaning that stolen cards can sometimes be used.

 

The FCA says that if customers fall victim to this kind of fraud, they are entitled to get their money back.

 

https://uk.yahoo.com/finance/news/thieves-can-still-use-contactless-cards-theyve-cancelled-banks-admit-103749226.html


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Ive been saying this for the last 4 years. They limit the amount of transactions being made to 5 though and then you have to enter your pin to go online to confirm a transaction.

RBSGroup and LLoyds - IM LOOKING AT YOU!!


 

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So an old lost/stolen card used for transactions could cause someone to go overdrawn ? And cause consequential issues !


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So you’re telling me that I phone my bank and they acknowledge my card is stolen and cancel it. The thief then makes a few offline purchases successfully because the shop doesn’t validate at the time. Then the shop runs a batch check online and when my cards use comes up my bank pays the shop? Really?

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So you’re telling me that I phone my bank and they acknowledge my card is stolen and cancel it. The thief then makes a few offline purchases successfully because the shop doesn’t validate at the time. Then the shop runs a batch check online and when my cards use comes up my bank pays the shop? Really?

 

https://uk.yahoo.com/finance/news/th...103749226.html the article have you read into it


:mad2::-x:jaw::sad:

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Isn't the weakness with VISA and not the banks? If maximum 5 transaction the most would £150 in one day however what is to stop the card being used to pay a small deposit for goods with a CPA being set up on the card?

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Well its because the transactions approval process doesnt always go online for contactless payments etc


 

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I fear my point is being missed. When the batch online approval is attempted, surely my cancelled card will be declined and I will not be caused any discomfort? It’s the retailers luck out for failing to approve at point of sale, surely....

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I fear my point is being missed. When the batch online approval is attempted, surely my cancelled card will be declined and I will not be caused any discomfort? It’s the retailers luck out for failing to approve at point of sale, surely....

 

Not being missed :) Promise...

 

No as the payment will be deemed as pre authed...


 

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