Ghost Tap Exploits NFC Payments for Fraud

Cybercriminal Innovation: A sophisticated attack, ‘Ghost Tap’, has emerged, exploiting NFC mobile payments like Apple Pay and Google Pay to steal money globally. Unlike previous methods, Ghost Tap doesn’t require the victim’s card or device, making it stealthy and harder to detect.

Data Theft: Attackers steal credit card details and OTPs (One-Time Passwords) via phishing, malware, or social engineering.Data Relay: The stolen NFC payment card data is sent to money mules worldwide using relay servers.Cash-Out: Mules use their devices to make small, undetectable purchases at multiple point-of-sale (PoS) terminals.

Ghost Tap eliminates the need for ATM withdrawals, focusing on discreet retail purchases, further complicating detection and tracing efforts.

Scale: Small transactions spread globally make detection challenging for banks.Obfuscation: Money mules’ actions mask the primary attackers.Legitimacy: Transactions appear normal, bypassing anti-fraud systems.

🔍 Regularly monitor your bank account for unusual transactions. ⚠️ Report any suspicious activity to your bank immediately. 🔒 Enable real-time transaction alerts.

Banks must improve anti-fraud mechanisms to detect transactions from the same card made in geographically impossible timeframes. For example, a purchase in New York followed by another in Cyprus within minutes.

Ghost Tap is a wake-up call to enhance NFC transaction security. Stay vigilant and proactive in monitoring your accounts!