Chinese Fraud Rings Exploit Tap-to-Pay Schemes in Retail Theft
Organized crime rings from China are exploiting digital payment methods like tap-to-pay to steal billions annually by purchasing gift cards with stolen credit card data. These schemes involve coordinated efforts across multiple retailers, including Lowe’s and TJX Companies (TJX), using self-checkout kiosks and remote coaching via headphones.
Topics: Chinese gangs credit card fraud retail theft tap-to-pay schemes