MSE News: Card schemes to tackle contactless flaw

Former_MSE_Megan_F

Card schemes are taking action to deal with a security flaw which means lost or stolen contactless cards can be used AFTER they've been cancelled but some of the changes will take months to come in and cards will continue to be usable in some cases...

Read the full story:
'Visa, Mastercard and American Express act to tackle contactless card security flaw'

Click reply below to discuss. If you haven!!!8217;t already, join the forum to reply.

ceredigion

How many end customers have lost money after the card has been cancelled ?
Queue lots of complaints from those wanting a contactless card with their basic account

Anthorn

For crying out loud! Why is M.S.E. jumping on this old bandwagon yet again. Must we yet again post that it happens with every card as a safeguard against fraud? Spend, cancel the card and the card can still be debited and rightly so! It's not unique to contactless cards!

Ectophile

Anthorn wrote: »

For crying out loud! Why is M.S.E. jumping on this old bandwagon yet again. Must we yet again post that it happens with every card as a safeguard against fraud? Spend, cancel the card and the card can still be debited and rightly so! It's not unique to contactless cards!

I have no idea what you are trying to say there. The problem is that you can report your card as stolen, but the person who has stolen the card can still keep spending on the card months after the card was reported stolen. That's not right.

Worse, some banks will still keep debiting money from the customers' accounts, even after the card was reported stolen, because they have nothing in place to block those transactions. It's left for the customer to claim the money back.