There have been a lot of banking scams lately, where victims lost tens of thousands to hundreds of thousands of dollars. Sadly, most of these victims did not get most of their money.
Last month, there was a spate of Apple Pay fraud that saw victims losing thousands of pounds through their Revolut bank account. The question is, given the reputation of Apple on security, how could it be possible for hackers to pull off this fraud?
To understand why this is not an inherent weakness on Apple Pay’s security, we will look at how this fraud works. Then you will be able to know what to do to protect youself.
First, this is how the fraud is carried out:
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