Bank Cards: Fraud

HM Treasury written question – answered on 28th October 2016.

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Photo of Nigel Adams Nigel Adams Conservative, Selby and Ainsty

To ask Mr Chancellor of the Exchequer, how many recorded incidents of fraud on contactless cards have been recorded since that technology became available.

Photo of Simon Kirby Simon Kirby The Economic Secretary to the Treasury

The Government does not hold any data on the recorded incidents of fraud on contactless cards. Industry statistics received from Financial Fraud Action UK indicate that in the first half of 2016 there were £2.9 million losses attributed to fraud on contactless cards compared to a spend of £9.27 billion. According to the industry, fraud on contactless cards accounts for less than 1% of card fraud losses.

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