Have you ever been asked to hand over your phone during a confusing digital wallet payment transaction or had someone approach you, saying they lost their phone and need to make an emergency call? While they may genuinely want to help with the payment or need a phone for an emergency, there’s also a chance they could be attempting to steal from you. And we’re not just talking about taking your phone (though that’s a possibility too), but gaining access to your accounts and personal information.
The biggest problem comes when you lend your phone out and you have various apps and digital wallets open. Instant payment apps are a handy way to pay for things, but they are also a handy way for someone else to pay for things with your money. People usually fall for this type of scam when they are conducting a transaction using their digital wallet or payment app.
The victim is usually approached by an innocent looking individual, asking them if they would like to make a small donation to a school or local group fundraiser. If you’re like most under 40 somethings, you agree to give to the cause using one of your payment apps. Once you have done so, the scammer may tell you that the payment did not go through, and usually asks to see your phone in order to sort it out. Once they have your phone, they may now have access to transfer large sums of money from your payment app. Keep in mind that they may have also been watching you enter any PIN numbers or codes you used to access your account. Once the scammer has your money, there is little you can do to get it back.
Bottom line? Don’t lend your phone to a stranger under any circumstances. If the stranger indeed has an emergency situation, offer to make a call on their behalf. If someone tries to confuse you during a digital wallet payment transaction and asks you to hand over your phone for any reason, do not. If it’s a legitimate transaction you are having problems with, you can research the issue yourself within the payment app.
