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Thread: Barclays rolls out contactless cash machines

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    Re: Barclays rolls out contactless cash machines

    I'm a security guard for a major UK supermarket chain working in a city centre convenience store. Since contactless cards went live we've gone from almost no (detectable) card fraud cases, to the point where the Police are contacting us regularly, wanting CCTV of thieves using stolen contactless cards.

    Shame they aren't so proactive when we report known homeless junkie thieves with no prior record of purchasing alcohol suddenly appearing in store to buy relatively expensive spirits with cards not in their name.

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    Re: Barclays rolls out contactless cash machines

    Keep seeing "Once the terminal speaks to the bank and the STOLEN money is transferred from Victim to the THIEFs bank" or along those lines.

    The next part is the thief has to obtain that money.

    Simple:-

    The gangs that specialise in FRAUD with skimming cards etc have been known to get involved with the contactless cards.

    Apparently there HAS been someone going about with one of those hand held terminals with Pawns on the lookout for potential victims. Think it was in London?

    FIRST - So if you have a handheld terminal that's you covered that first part.

    SECOND - Victim with contactless can be spotted at checkouts obviously.

    THIRD - Because they are only taking out £20 at a time, quite a number of folk are not going to realise this amount right away, I know I wouldn't. They are charging £20 under as a admin fee. (I believe the account setup in the bank is a business account and Bank Accounts can be bought from the darkweb...)

    FOURTH - This is where its all RISK.. the person who is responsible for the funds basically has to hold out for as long as possible and transfer the cash from bank to a prepaid debit card/goods/giftcards etc

    FIFTH - GOODS are then sold via darkweb for Bitcoin

    It might seem like a lot of work for £20 a time... but it works. What you can buy on the darkweb is actually quite scary :|. And I'm not talking about the drugs and the different variations or hitmen.

    Contactless is just going to set back these fraudsters for the time being, then they are going to finetune methods to extract cash from this effectively.

    The way forward I think is banks to issue a unique 5 digit code that is refreshed every 15 minutes for online banking at home. Perhaps an app on phone for when shopping in person?

    If it takes me that little bit longer. I'd rather that to keep my pennies than being a victim. Just my 2c

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