A new digital wallet fraud has emerged, enabling criminals to transfer victims' bank cards onto their own devices. Anti-fraud organizations warn of the sophisticated nature of these scams, which are widespread across the UK and North America. Criminals lure victims with enticing offers—like energy bill assistance—gaining access to sensitive data to facilitate unauthorized purchases. Experts are alarmed by the scale and resources criminals are investing, and the use of familiar scamming techniques, such as fake messages and social media advertisements, underscores the growing concern.
Criminal gangs have exploited the digital wallet system, prompting warnings from anti-fraud bodies due to the alarming sophistication and speed of these fraudulent activities.
The fraud operates through convincing victims to provide bank details under the guise of various enticing offers, leading to the theft of their payment card via digital wallets.
Experts note that the substantial resources and strategic efforts criminals invest into this scam indicate a new level of sophistication in fraudulent activities.
The use of familiar scams, like fake texts or social media ads promising low-cost goods, remains a key tactic for criminals to deceive victims.
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