Criminals are pouring effort and resources into a new way of exploiting hacked bank accountsA new and sophisticated fraud has emerged in which criminals transfer the bank cards of victims on to the digital wallets of their own phones and then buy goods online and in high street shops.A group of anti-fraud bodies have come together to warn of the dangers of the scam, which international criminal gangs have been using in the UK as well as North America and other countries. Continue reading...
Criminals are using a sophisticated fraud to add victims' bank cards to their own digital wallets via temporary passwords obtained through deceptive SMS messages. This allows them to make purchases online or in stores, often delaying spending to avoid detection and frequently purchasing gift cards. The compromised phones and access to them are sometimes sold between fraudsters.
