I had an image of fraudsters acquiring the right device (which probably won't be too hard, based on past evidence) and scanning wallets in crowded areas, but I didn't know how close it would have to be to work. It looks like there's potential for that and more besides.
The article at your link is over three years old - these cards have been in use in the UK for a year now, and I'm not aware of any increased security risk.
Millions of the cards are being used in 19 different countries, and as yet I've heard no bad reports as far as security is concerned. Issuing banks set a transaction sequence limit on these cards - after a certain number of contactless transactions you are asked for a PIN, and if you don't provide it the card is locked. When you do provide it the transaction counter resets to zero, and off you go again.
The cards are great for rapid processing of small transactions - transport fares, for example.
Sorry FE should have taken a bit more notice, there is more than one way to skin a cat and fraudsters are no exception, if they want your money bad enough they will find a way. however it is good to see that the fight against this sort of crime is moving into new technology and i'm all for it. Hae been using Pin sentry for some time now for online stuff, thats a good simple tool to use...
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