Apple Pay: Bridging Online and Big Box Fraud

by KrebsonSecurity

Lost amid the media firestorm these past few weeks about fraudsters turning to Apple Pay is this stark and rather unsettling reality: Apple Pay makes it possible for cyber thieves to buy high-priced merchandise from brick-and-mortar stores using stolen credit and debit card numbers that were heretofore only useful for online fraud.

To understand what’s going on here, a quick primer on card fraud is probably in order. If you’re a fraudster and you wish to walk into a Best Buy store and walk out with a big screen TV or xBox console on someone else’s dime, you’re going to buy “dumps,” which are data stolen straight off the magnetic stripe on the backs of cards. Read the entire story.

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