HSBC Contactless Card

Jamie_Carter

rb10 wrote: »

Do you have a source for this claim?

Yes a DC in the Met. But I'm afraid I can't pin him on here.

Jamie_Carter

Gromitt wrote: »

I'm sure if a thief goes through all the effort of stealing the card form my wallet without me noticing, then they are going to use it for something else other than a McDonalds or a Starbucks!

The very first version of Contactless didn't use authentication or encryption (silly Barclays), all of them now do so and require communication and authentication before they'll give out the encrypted contents which is then useful for one single purchase.

Apparently it's usually homeless or drug users, who will pass newly stolen cards around to make as many low value purchases as possible before the card is blocked.

amiehall

Jamie_Carter wrote: »

It should be basic training for cashiers to identify fake cards. Otherwise the retailer will lose money.

Do you still use signatures?

No not really, most signatures are foreign cards although there are a few chip and sign around.

It would be rare for a cashier to touch a card now. Customers use the pin terminal themselves. I have worked in retail management for 5 years, I have never heard of a store defrauded by a fake card at any of the firms I worked for. Fake notes are a far more pressing concern.

paulsharpe

I'm one to embrace technology with open arms, but these things can go wrong, and being such a new technology i'd prefer to wait a while until the 'issues' die down and the security complications are addressed fully.

Not that my comment helps the OP! But, my guess is that you'll have to have your card for 6 months before you can go contactless. Haven't you asked them?

reclusive46

amiehall wrote: »

No not really, most signatures are foreign cards although there are a few chip and sign around.

It would be rare for a cashier to touch a card now. Customers use the pin terminal themselves. I have worked in retail management for 5 years, I have never heard of a store defrauded by a fake card at any of the firms I worked for. Fake notes are a far more pressing concern.

Fraudsters don't generally use cloned or stolen cards in the UK as it is much easier to use a magstripe card in the US.

Pretty much only magstripe only cards that are used in the UK are from the USA. Although emergency replacement cards from Visa, MC and AmEx are all magstripe only. Diners Club in the UK also still issues swipe only cards.

Hominu

Jamie_Carter wrote: »

Apparently it's usually homeless or drug users, who will pass newly stolen cards around to make as many low value purchases as possible before the card is blocked.

So about 3 - 4 low value purchases then, assuming the stolen card was from someone who had recently used his PIN to arm the contactless portion.

Considering the typical value of a contactless transaction is less than £10, thats about £20 - £30 of fraud. Compared to CnP and mag stripe fraud, it's nothing.

gusgorman

Hominu wrote: »

So about 3 - 4 low value purchases then, assuming the stolen card was from someone who had recently used his PIN to arm the contactless portion.

Considering the typical value of a contactless transaction is less than £10, thats about £20 - £30 of fraud. Compared to CnP and mag stripe fraud, it's nothing.

It might be small in comparison - but as has been mentioned again, and again and again in multiple threads on this forum, any amount is far too much for someone who doesn't want the feature on their card in the first place.

(Also - £10 is alot of money for some people)

Jamie_Carter

amiehall wrote: »

No not really, most signatures are foreign cards although there are a few chip and sign around.

It would be rare for a cashier to touch a card now. Customers use the pin terminal themselves. I have worked in retail management for 5 years, I have never heard of a store defrauded by a fake card at any of the firms I worked for. Fake notes are a far more pressing concern.

A cashier shouldn't actually touch the card any more, but you find that some do.

There is a huge number of cloned cards about at the moment. Most are registered in America, and a huge number are American Express.
I don't know where you work, but credit card fraud is very common.

Jamie_Carter

reclusive46 wrote: »

Fraudsters don't generally use cloned or stolen cards in the UK as it is much easier to use a magstripe card in the US.

Pretty much only magstripe only cards that are used in the UK are from the USA. Although emergency replacement cards from Visa, MC and AmEx are all magstripe only. Diners Club in the UK also still issues swipe only cards.

That would explain the huge number of cloned American cards about at the moment.

Jamie_Carter

Hominu wrote: »

So about 3 - 4 low value purchases then, assuming the stolen card was from someone who had recently used his PIN to arm the contactless portion.

Considering the typical value of a contactless transaction is less than £10, thats about £20 - £30 of fraud. Compared to CnP and mag stripe fraud, it's nothing.

It all depends on the card holder's normal spending pattern. Security alerts are triggered by changes in buying patterns more than the sum.