ApplePay Bank fraud being fixed Ping!
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You know ... I’ve seen talk of the “low information voter” out there ... BUT ... here on Free Republic we have the “low information reader” who seemed to think (earlier) that there was a problem with Apple Pay from Apple’s side. These people can’t read things with “comprehension” apparently.
THIS should make it clear “WHO HAS THE PROBLEM”. The BANKS are the ones with a PROBLEM and they’ve recognized their problem and are fixing it.
Apple is not fixing it, but the BANKS “are” fixing it!
The article said ... “Some of that stolen card information has been tracked back to accounts that were compromised in Target’s big data breach at the end of 2013 and the Home Depot hacking last year.”
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A few months ago I had one of the card companies tell me that my card was compromised. I did not see any unauthorized charges show up on it at any time, so it was not “that” type of thing which caused my card to be compromised. And I did use that card at Home Depot, so I guessed that this was the reason why the bank replaced my card.
Now, the fact that my card was compromised had nothing to do with the way I used it or having someone get my information off my card (like a clerk at a store or some waiter at a restaurant). It was a hacker break-in at Home Depot that did it.
SO ... if someone had used my card info on their iPhone, using Apple Pay on their iPhone, that would have nothing to do with Apple Pay or a problem with that system. That’s a problem with some hacker stealing actual credit card info from some big retailer.
IF I had been using Apple Pay back then (when Home Depot was hacked, even though it wasn’t active at that time) ... there would have been NO WAY any hacker could have gotten the credit card info from Home Depot. That’s because Apple Pay does not allow Home Depot to have the credit card info! Now THAT is good security!
Bump for later
Someone help me understand how credit card fraud happens.
I completely understand the fake card or fake number part.
But how do people avoid detection or arrest by more basic security measures?
If you go to a major store, they often have high definition video of you in the store.
They often have high definition video of your car and license plate number in the parking lot.
If you charge more than $100, they routinely ask to see your Drivers License, which means you have to have a fake card plus a fake License with the same name, and they might check that the address on your License is the same as your charge card billing address, and they might check that your phone is actually linked to that address.
Or, let’s say you call in a charge on something. They immediately have a record of the phone number you are calling from, and they will question you if you block your phone number in some way. Then, the product you want to steal has to be shipped to a real physical address, which introduces more ways to get caught.
How do people get away with this crime more than a couple times?