Apple Pay Exploit #2

How Apple Pay Is Exploited For Fraud

The technology of Apple Pay has not been exploited; however, weaknesses in setting up Apple Pay do exist. The first method, reported earlier this year, involved fraudsters setting up stolen credit cards on Apple Pay due to weak or non-existent customer authentication methods. Now fraudsters are continuing this practice; however, this time they are using out-of-band authentication methods, such as verification by phone. The fraudsters are porting phone numbers, most commonly customers’ landlines.