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Banking authorities and financial security experts have issued warnings about a significant increase in fraud cases involving digital wallets, with criminals exploiting Apple Pay, Google Pay, and other platforms to steal card information without physically accessing the card.

According to experts, these scams typically begin with sophisticated phishing attempts, such as fake text messages or phone calls alerting victims to supposed suspicious transactions or urgent account verification needs. Under pressure and fear, victims often share sensitive card information or approve legitimate verification notifications, allowing fraudsters to link the card to their own devices.

Once the card is added, perpetrators quickly make high-value purchases, including smartphones, electronics, and luxury goods, which are often resold before victims notice the fraud. Banks report that this type of scam has become a leading cause of card-related financial losses, despite enhanced security measures and technology.

Authorities stressed that criminals exploit psychological pressure during the call to convince victims that approving verification prompts is necessary to secure their funds.

Banks advise customers to:

• Never trust unsolicited calls claiming to be from a bank unless previously scheduled.

• Never share verification codes, passwords, or personal data under any circumstances.

• Regularly review transactions and enable instant banking alerts.

• Contact the bank immediately via official channels if any suspicious activity is suspected, and report potential fraud promptly to minimize financial losses.

Financial institutions reiterated that vigilance and careful verification are the most effective defenses against digital wallet fraud, emphasizing the importance of protecting both personal and cardholder information in the growing digital payments landscape.