Cybercriminals have devised a new trick to clone your digital payment card using services like Apple Pay or Google Pay.
🛡️ Security Code:
An additional security code is required when linking a bank or credit card. Scammers attempt to intercept this code.
📬 Older Tricks:
Previously, scammers used phishing emails or messages to obtain codes, but this was not very successful.
🛠️ New Problem:
Recently developed tools can intercept authentication tokens, enabling scammers to secretly link someone's payment card to their phone.
📲 Contactless Payments:
Services like Apple Pay are popular among scammers as they allow contactless payments without a PIN.
🦠 Scam Malware:
New malware can intercept and misuse confirmation codes, allowing scammers to make payments unnoticed.
Once linked, scammers can make contactless payments via your payment card, often purchasing gift cards for resale.
🕵️ Fraud Detection:
Less data exchange in contactless payments makes fraud detection harder, often leading to fraud being discovered later with higher damage amounts.
🍏 Response from Apple Pay and Google Pay:
Both companies point to banks as responsible for reliable customer verification.