Bank on this cyber security trick.
A financial guru recently sounded off on the risks of storing various methods of payment within Apple Pay, or any digital wallet.
Money man Dean, of TikTok duo Alexis and Dean, urged in the video that one method in particular is most at risk for bad actors to take advantage of when stored in a digital wallet.
“Don’t link your checking [account], don’t link your debit card to it,” Dean warned.
Dean understands that most people make this mistake — he admits to having too many cards hooked up to his own account, to the point where he sometimes loses track.
“If you want to be safe, remove your debit card from that platform and just use your credit card as the main payment,” he said.
The warning may come as a surprise who have been assured that tap payments are perfectly legit.
Tech care companies like Asurion even brag that “contactless payments are actually safer than a physical card.”
So what’s the risk then?
In short, there is the possibility of someone accessing a person’s phone and seamlessly transferring their life savings away through the bank card, using apps like Venmo or Apple Pay itself.
While it may seem far-fetched, the threat is severe that New York District Attorney Alvin Bragg called on money transfer apps to put better protocols in place.
One thief in Minnesota, Aaron Johnson, 26, was nabbed after stealing $300,000 through the scheme.
He would target college-age young people drunk at bars to get into their phones, pretending to input contact information and similar gimmicks.
In the few moments he was hacked in, Johnson would send himself large sums of money.