Criminals Use Apple Pay For Fraudulent Purchases
Mobile payments are only as secure as the wallet service is, and Apple Pay is not doing the best of jobs to protect consumer data. While many people see Apple Pay as a form of Fintech innovation, making mobile payments through Apple’s financial solution with stolen credit card information appears to be much easier than originally anticipated. Some people would go as far as saying how this mobile wallet is quite inferior to other financial technologies, including Bitcoin. Apple Pay Fraud Rates. Assailants have not managed to break the Apple Pay wireless payment mechanism security, yet the....
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Crypto.com has recently announced about integrating Apple Pay into its application and website. Apple does not support the crypto payment directly but users of Crypto.com shall be given an option to make the in-app purchases. These purchases can be performed with the help of both credit and debit cards via Apple Pay. Through this new […]
"Industry shouldn’t be allowed to write the rules that they want to play by,” said Senator Sherrod Brown in calling for U.S. lawmakers and regulators to address crypto scams. Senator Sherrod Brown, chair of the Senate Banking Committee, has penned letters to the CEOs of Google’s parent company Alphabet and Apple calling for the tech firms to provide information on the ways they prevent certain apps from promoting crypto scams.According to the letters published on Thursday, Brown asked Apple CEO Tim Cook and Alphabet CEO Sundar Pichai for the steps the tech giants were taking in the....
A federal judge in California has ruled that Apple Inc. is shielded from the “Toast Plus” class action lawsuit where a fake crypto wallet app was available in the Apple App Store. A customer sued the tech giant after downloading the fraudulent app and lost some crypto.
Apple Not Liable for Loss After Customer Downloaded Fake Crypto App
Judge Phyllis J. Hamilton of the U.S. District Court for the Northern District of California has ruled that Apple Inc. is not liable in a class action lawsuit where a fraudulent cryptocurrency wallet app was available for download on....
Hardly any bank requires users to enter their card pin or any other form of secure authentication to process withdrawals. Bank ATMs have been attracting criminals from all over the world. Emptying these machines can be done in various ways, although careless fraud is becoming more prevalent. Cardless ATM transactions are the prime reason why criminals have a much easier time as of late. Once criminals obtain stolen bank account usernames and passwords, converting it into cash is just a few steps away. What makes fraudulent cardless ATM withdrawals so annoying is how affected customers are....
Near Field Communications (NFC) is a modern technology that allows communication between two electronic devices without an internet connection. There are many reasons why NFC is beneficial to consumers but as with many modern technologies; it doesn’t come without its risks. Platforms such as Apple Pay and Google Wallet both use NFC and the added convenience is by far the most popular advantage, as NFC makes it quick and easy for people to make purchases from their contactless cards or their mobile phone. The benefits. Let’s take a look at how NFC technology is used and how it is....