Krebs: Why Apple Pay is a fraudster’s friend

Apple Pay

An iPhone 6 being used to make an NFC payment via Apple Pay

Credit: Martyn Williams/IDG News Service

Security expert Brian Krebs has an enlightening and rather frightening new post headlined: “Apple Pay: Bridging Online and Big Box Fraud.” It begins:

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.

Krebs takes us through a detailed explanation of why this has happened and who is to blame.

You don’t have to use Apple Pay – or even own an Apple product—to be concerned.

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