Fraudsters are exploiting device identification measures and out-of-band authentication methods used by banks to verify new Apple Pay accounts. Criminals are now exploiting this out of-band authenticating method by “porting” over or transferring landline numbers from unsuspecting victims to mobile phones the criminals possess. Banks will need to develop strategies now to ensure they’re authenticating users through additional means, says security expert. Security provider Neustar says fraudsters are increasingly stealing and using victims’ phone numbers as well as their passwords.”]
Source: https://www.cuinfosecurity.com/blogs/how-apple-pay-exploited-for-fraud-p-1852