How Hackers Can Drain Your Bank Account With Apple And Samsung Tap-And-Pay Apps | Forbes (Forbes)

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Back in September, researchers at the Universities of Birmingham and Surrey announced they had found a way to trick a phone into believing it was allowing payments to be made to a train turnstile, when in fact they could be used on any kind of retail terminal, or one controlled by a hacker that could funnel money straight into a criminal’s bank account.

Just as it is for travelers, for criminals, there’s the added benefit that the tap-and-go feature continues to work when a phone has run out of battery and powered down. “If you use a Visa card on Apple Pay, anyone could take your phone—even uncharged—go to a luxury shop on Bond Street and buy something with your phone,” Timur Yunosov, a Russian cybersecurity researcher who has developed a penchant for exploiting vulnerabilities in payment devices, later explained over online messages. And there’s no limit as to how much could be transferred. In the Forbes demo it was only a few pounds, but that could go up into the thousands in a real-world attack.

Read the full story on Forbes: https://www.forbes.com/sites/thomasbrewster/2022/02/02/hack-drains-bank-accounts-with-apple-and-samsung-tap-and-travel-apps/?sh=6288ca0d142c

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How Hackers Can Drain Your Bank Account With Apple And Samsung Tap-And-Pay Apps | Forbes