Wave of Tap-to-Pay Crime Hits Retail Stores

Digital theft methods like tap-to-pay and app fraud have become the tools of the trade for today’s organized retail criminals, with solo thieves connecting to larger crime rings to siphon off billions annually. Instead of using stolen credit cards to empty store shelves, fraudsters are opting to purchase gift cards through tap-to-pay and resale methods. This allows for easy monetization either at discounted prices or for resale in lucrative markets like China. Significant cases investigated by CNBC reveal a trend in retailers like Lowe’s and TJX Companies being targeted by these fraudulent activities. One observable case involved a man in…