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News and Threat Analysis

IS APPLE RUNNING iTunes GIFT CARD SCAM?

Trust plays the biggest role in one’s life and when it broke, it is the worst step of one’s life. The statement is a bitter truth but yet it is inevitable. We all trust tech giants just for the one reason and that is they respect their customer and their privacy. It is difficult to believe on the fact that sometimes they disrespect it too.

Apple, the name which we all trust blindly and keeps it far away from the words like scam, phishing and breaching is no more able to get separated from these words now. The deed which has been observed might left you in a shock.

This tech giant which is known for great customer support, has been prosecuted for refusing help to the victims of iTunes Gift Card Scam . Seven Customers have filed an 11-count Class Action against Apple and its services. The claims made by Lawsuit clear the fact that Apple has retained hundreds of millions through this scam and it should return money to the victims but the giant refuses to help them. Let’ catch the theory behind it.

WHAT’S THE THEORY BEHIND IT?

We all know that iTunes Gift cards are sold by Apple and can be easily redeemed at apple partnered vendors. Trusting on it’s name, many customers buy it and use it to pay for services linked to Apple or to buy some product. It means that anybody who has Apple ID can use the gift cards.

Scammers do it in the same way. By using social engineering methods and phishing, they retrieve the code which is written behind the gift cards from the owner and then they redeem that code to pay for any service they want to use. We all know that these gift cards are like currency notes, just as numbers written on a note does not belongs to anyone, similarly code does not belongs to anyone. Anybody who has the access to it, owns it.

Here, Apple too keeps the record of redemption of gift cards as they can only be redeemed through an Apple ID which can be easily tracked. But on complaining about the scam to the Apple, it behaves strangely as if it knows nothing about it. Some researchers deep dive and found out that for every scammed request, Apple receives 30 % commission from the total amount payable to the end vendor and more over Apple keeps the left 70 percent amount to itself for around 4-6 weeks. It means when the customer complaints about the scam, Apple has all the 100 percent amount with it.

In the official redemption of the gift card, Apple receives very less amount of commission as compared to the scammed ones. Thus it is clear from the above explanation that to earn more commission Apple does not accept scam complaints which left victim in a great loss

CONCLUSION

The gift card scams are not new. Apple has been reported to be involved in same kind of scams in the past. It is better to not rely upon these gift cards and if you are, do not share any confidential codes written on it with anyone anyhow anywhere.