$1.5 Million Tap and Go Fraud Uncovered
Written on the 28 June 2017
While many consumers love the convenience of 'tap and go' purchases, they might be making it easier for fraudsters to tap and go the contents of their bank accounts.
Just last month New South Wales Police busted a sophisticated tap and go crime ring that enabled three men to make mobile payments netting them $1.5 million in fraudulent purchases across Sydney.
The men were porting mobile phones and compromising bank accounts through mobile payment applications. This then enabled them to buy electronic and luxury goods, which they then on-sold.
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