From Wall Street Journal.

Federal investigators say that crime groups in China are behind the toll fine scam messages that made more than $1 billion over the last three years. The elaborate phishing scheme uses fake texts, a one-time verification code and remote tap-to-pay software to steal your credit card information to buy everything from iPhones to luxury handbags and gift cards.

WSJ worked with a cyber threat researcher and created a fake phishing page to show exactly how it works.

Chapters:
0:00 Fake toll texts
0:27 Background on the Chinese scam
1:04 The fake phishing page
1:53 How thieves use the scam to steal billions
3:18 Remote tap-to-pay trick

News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day’s biggest stories into bite-size pieces to help you make sense of the news.

#Tech #Crime #WSJ