iPhone passcode scam! Attackers can steal your money this way

A new iPhone scam has just been flagged. It has to do with your iPhone passcode. This feature can potentially, be used to gain access to your phone to steal money and data. Here's how the iPhone attack happens.

iPhone passcode is being used to steal user’s data and money. (Unsplash)

Even though iPhones are considered one of the most secure smartphones that you can buy today, nothing in this world Is 100% safe. No matter how much you protect your device by using biometric security or PIN, if someone sees you enter your password, things can take a turn for the worse. This scam is doing the rounds especially in the US, according to a report by Wall Street Journal.

How does the attack take place?

Attackers are using iPhone passwords to gain access to user's personal data and even financially duping them. The scam involves an attacker (or a group of attackers) who keep a watchful eye on your iPhone while you're out and about in public. They get a peek at your iPhone while you're entering your passcode. Now, your iPhone might have TouchID or FaceID enabled, but the passcode is a failsafe method in case you're not able to login. The attacker then snatches your iPhone while you're not paying attention and he can gain access to your phone in a matter of seconds and log you out of other connected devices such as your Macbook or iPad.

Your iPhone is then open to any illicit activity such as gaining access to your financial information via banking apps installed on your device and even having open access to your personal data.

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Incidents

According to the Wall Street Journal report, instances of such attacks taking place have been reported in New York, Austin, Denver, Boston, Minneapolis and as far as London. In some instances, the attacker first befriends the victim and asks them to open a social media app. The attacker then proceeds to borrow the phone for capturing a photo, and simply restarts the iPhone, which then requires a passcode to open.

In Minnesota, a criminal gang managed to dupe a person of nearly $300,000 via this technique. Sergeant Robert Illetschko, lead investigator on the case, told WSJ, “It's just as simple as watching this person repeatedly punch their passcode into the phone. There's a lot of tricks to get the person to enter the code.”