Amex fixes contactless card security flaw in final win for MSE’s campaign
‘It’s now much, much less likely this type of fraud will happen to you’
Kirsty Good, head of campaigns at MoneySavingExpert.com, said: “Finally, after years of campaigning, the last major card provider has managed to close this security loophole, making this type of contactless fraud – with a few exceptions – a thing of the past.
“It was outrageous that consumers – months after cancelling their stolen cards – were seeing money fraudulently taken out of their account. All credit to Visa, Mastercard and American Express for tackling this head on.
“If your card is lost or stolen, you still need to tell your bank to cancel it as soon as possible. As always, be extra vigilant when looking at your account and flag any dodgy transactions. But thankfully, it’s now much, much less likely that this type of fraud will happen to you.”