Credit card fraud Stories October 21, 2015

A former Apple Store employee has been charged with grand larceny and other crimes after allegedly using fraudulent credit and debit card details to purchase an incredible $997,000 worth of Apple gift cards in just three months.

24-year-old Ruben Profit is accused of carrying out the fraudulent purchases while working at the Apple Store in the Queens Center Mall in Elmhurst, the company’s first retail store in Queens. All of the purchases were made between August and October, reports NBC New York …  expand full story

Credit card fraud Stories January 27, 2015

While Apple Pay is the gold standard for safe card transactions, some partner banks are leaving customers vulnerable to fraud via identity theft thanks to weak checks when cards are added to Apple Pay, according to mobile commerce consultants Drop Labs. Some partner banks are consequently seeing fraud rates six times higher than with physical cards.

For consumers, Apple Pay is extremely safe, thanks to the use of Touch ID fingerprint verification and single-use code transmission rather than sharing full card details. Drop Labs claims that the weak link in the chain is what happens when cards are added to Apple Pay …  expand full story

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