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The Guardian - UK
The Guardian - UK
Business
Shane Hickey

Digital wallet fraud: how your bank card can be stolen without it leaving your wallet

Once a card has been added to a digital wallet like Apple Pay or Google Pay, the appeal is simple: spend on electronics and designer goods which can be quickly resold.
Once a card has been added to a digital wallet such as Apple Pay or Google Pay, the fraudsters buy electronics and designer goods that can be quickly resold. Photograph: Koshiro K/Alamy

You get a call from your bank and the informed voice asks to you to confirm the personal details they have on file, which you do. You are then asked whether you bought something at an electrical retailer recently for £120 and spent £235 in Birmingham, but neither transaction rings true.

The caller tells you they have blocked the payments but they must now secure your account, and say they will send you a notification to approve, or a code to pass on to them. You feel under pressure to protect your money, so you do what is asked.

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