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banks told to act on contactless card fraud

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banks told to act on contactless card fraud

banks and payment card providers have been told they must do more to protect customers against the risk of contactless card fraud.in particular, the financial regulator is calling for action over a loophole that means "cardholders can be defrauded months after their cards are stolen or lost", says the times.following concerns from the treasury committee, the financial conduct authority yesterday (fca) sent a letter setting out a package of remedies."in his letter to the committee, the fca chair, john griffith-jones, said it was urging banks to remove 'any onus on customers to identify fraudulent transactions'," says the guardian."it was also considering technical fixes as well as provid...