Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what information his Department holds on changes in the level of illegal transactions using stolen cards in the 18 months (a) before and (b) after higher contactless payments limits were introduced in October 2021.

UK Finance publishes data on payment industry fraud, including on unauthorised card payment fraud.

The revised limits for contactless payments were set by the FCA following public consultation. The FCA continues to monitor fraud rates across all payment types and will consider action as appropriate if fraud rates rise.

Victims of unauthorised payment card fraud are legally protected against losses. Industry analysis indicates that customers are fully refunded in excess of 98 per cent of all confirmed cases.