Banks are ‘scrambling’ to stamp out Apple Pay-related fraud

[Wireless News]

It apparently hasn’t taken very long for scammers to figure out ways to commit fraud with Apple Pay. The Guardian’s Charles Arthur writes that some banks are “scrambling” to fix Apple Pay-related problems on their end that have allowed criminals to use the platform to buy-goods with stolen identities and credit card information. DON’T MISS:-Galaxy S6 vs. HTC One M9: Samsung puts HTC to shame in early benchmarks “The crooks have not broken the secure encryption around Apple Pay’s fingerprint-activated wireless payment mechanism,” Arthur writes. “Instead, they are setting up new iPhones with stolen personal information, and then calling banks to ‘provision’ the victim’s card on the phone to use it to buy goods.-Criminals with the stolen IDs are understood

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