This Is How Easily You Can Have Money Stolen From Your Contactless Card

26 July 2018, 09:05

An LBC investigation shows just how easy it is for criminals to steal money from your contactless card - without you knowing anything about it.

Using a hidden portable card reader, our reporter was able to show that scammers can steal £30 a time from a victim's bank account.

LBC's Bev Rimmer said of her experiment: "We came away with £90. Our participants knew we were up to something - and we gave the money back straight away."

Last year, there were £14million of losses on contactless cards or mobile devices, against £52billion spent on the cards.

Contactless card payments
Contactless card payments. Picture: LBC

Criminal lawyer Joseph Kotrie-Monson told LBC: "The reality is that once journalists are talking about this, it is a massively rife problem that has been completely underestimated by the finance industry.

"These numbers of £14million from last year. That's last year's figures. The current figures will be much, much higher."

UK Finance told LBC: "The money is fully traceable to a recipient's account.

"In the unlikely event it did happen, the victim would be fully protected against losses, unlike if cash is taken."

A contactless card being used
A contactless card being used. Picture: LBC

Ways To Avoid Being Victim Of Contactless Card Crime

- Use an RFID-blocking wallet to protect contactless cards.
- Wrap your contactless card in aluminium foil. There are also cards you can buy that block contactless signals.
- Don't keep your card in an obvious place, such as your back pocket.
- If your card is lost or stolen, make sure to report it to your bank or card issuer as soon as possible.
- Keep an eye on bank statements to look for any payments that you didn't make.

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