Financial fraud losses in the UK last year topped £20m a day – report Financial fraud losses in the UK totalled £768.8m in 2016, up 2 per cent on 2015, according to Financial Fraud Action UK. The figures, released on Thursday, cover losses from scams involving payment cards, remote (internet and telephone) banking and cheques. They also show that £1.38bn – equivalent to £6.40 in every £10 – of …
Meanwhile, CryptoLocker criminals get (traceable) BitCoin payments every day and that just sails under the radar.
Fighting crime is not easy, I'm sure, but dammit all, when most transactions take place electronically in a world where a single government organization can listen to and record every single mobile phone conversation, you still try to make me think that you can't trace a frikkin' bank transfer and find a criminal ?
Sorry, not buying it.
I'm not sure how much contactless fraud is ....
...because I didn't follow the link and then look at the report itself?
Figures are £6.9m losses against spending of £25.2bn, across both contactless cards and devices. So that's about one third of the losses per £ spent when compared to all other UK payment card fraud. And compared to 2015, the losses per £ spent went down by 25%, with total contactless fraud represented a mere 1.1% of overall card fraud.
I'd say the risks of contactless cards appear to be rather less than the tinfoil hatters would make out.
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