Increasing the contactless payment spending limit could lead to a rise in thefts and fraud, consumer and finance figures have warned. On Thursday, Chancellor Rishi Sunak announced that the contactless payment limit in shops would rise to £100.
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TSB has highlighted the most common and emerging scams that its youngest and older customers have fallen victim to, as over 65s lose an average of £7,5000 for 'green deal' scams.
A total of £30,857,329 has been reportedly lost to pension scammers since 2017 according to complaints filed with Action Fraud, the Financial Conduct Authority and The Pensions Regulator have said.