Banking Ombud warns of new banking scam targeting digital payment wallets
There is a new banking scam you need to be aware of! The Ombudsman for Banking Services in South Africa is warning consumers about a new fraud technique that exploits a growingly popular contactless payment method to empty people's bank accounts. Fraudsters are using stolen card information - such as the card number, expiry date and CVV number - to make purchases via digital payment wallets. These apps employ near-field communications (NFC) technology to make tap payments on smartphones and smartwatches using a linked bank card.These include Apple Pay, Fitbit Pay, Garmin Pay, Google Pay, and Samsung Pay. Sebenzile Nkambule spoke to Reana Steyn, the Banking Ombud of South Africa...
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