Apple Card Users Become Victims Of Fraud Despite Never Using Titanium Card

A fraud regarding Apple Card has been reported. The fact that Apple credit card has become vulnerable to skimming and cloning despite all the hype of security and lack of printed numbers is worrying credit card users.

Apple cards had been witnessing big demand in the credit card market where Walmart's credit card and Chase credit cards already have deeper penetration.

According to Apple news, a 9 to 5 Mac reader reported the fraud he experienced.

The surprising part was the card owner never used the physical titanium Apple Card and the matter points to a bigger security breach than mere skimming and cloning.

According to Larry, his Apple Card charge happened in Chicago although he is a resident on the West Coast.

So, the commonplace explanation of credit card fraud as the skimming and cloning of the titanium Apple Card by a thief does not sound plausible.

Larry insists that he used Apple Pay only with his Apple Card and never used the physical version of the Apple card.

When Larry raised the matter with Apple Support, the representative was fumbling for answers.

Given the fact that thieves cannot use intercepted card details during an Apple Pay transaction because Apple uses a unique security code for each transaction. This calls probing other angles.

According to Apple Pay procedures, when a purchase is made a device-specific number and unique transaction code will be used. Moreover, the card number is never stored on the device or Apple servers and card numbers are never shared by Apple with merchants.

Goldman and Apple must probe internally

In Larry’s case, the other angle of security breach could point fingers at the possible work of bad actors within Goldman Sachs or Apple who might have sold customers' Apple Card details to thieves into cloned cards.

Apple stock was up 2.6 percent in the last trading session of Oct 11.

Meanwhile, another report said a consumer of Best Buy credit card was charged $3,915 in merchandise dubiously. The customer noticed it late on his statement and canceled the card and sought a replacement.

However, a week later $1,795 was charged for merchandise was charged on the replacement card at the Greensburg store by someone else.

The store has launched an investigation following a police complaint by the consumer.

Best Buy has been moving fast on Black Friday sales with a series of deals for members under its My Best Buy program.

Called as “Magnolia Anniversary Sale” it will sell items from Best Buy's Magnolia in-store home theatre showrooms.

Under the deal, Samsung 65-inch LED 8K Ultra-HD television will sell for $2,999, with a discount of $2000. The promotion is expected to end on Oct. 20.