Large Scale iTunes Fraud Underway, Once Again
By on August 23rd, 2010

iTunes Back in July, we reported that several iTunes accounts were compromised by hackers who went on to make fraudulent purchases on the user’s behalf. Although Apple clamped down on the hackers, and promised security improvements after widespread criticism from bloggers, hackers seem to have one-upped them once again.

TechCrunch is reporting that another large-scale iTunes scam is underway, and several iTunes account holders have already lost thousands of dollars. The problem seems to be due to a security hole in iTunes accounts linked to PayPal. One affected user, Joey Bruce tweeted, “Someone hacked my iTunes/PayPal acct and drained everything from my bank account. Life is kicking me in the balls while I’m down”.

Given iTunes’ abysmal security track record, we strongly recommend against permanently storing any financial information (i.e. linking with your credit card or PayPal). PayPal is aware of the issue; however, none of the involved parties have issued a statement.

In related news, 12 people have been charged with fraud and money laundering offences related to iTunes. Apparently, this gang uploaded tracks to Amazon and iTunes and used stolen credit cards to purchase them.

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Author: Pallab De Google Profile for Pallab De
Pallab De is a blogger from India who has a soft spot for anything techie. He loves trying out new software and spends most of his day breaking and fixing his PC. Pallab loves participating in the social web; he has been active in technology forums since he was a teenager and is an active user of both twitter (@indyan) and facebook .

Pallab De has written and can be contacted at pallab@techie-buzz.com.
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    Wow, those victims sure learned an internet security lesson the tough way. Just because a website offers a convenient way to store your credit card or paypal account, it does not mean it is secure. In a case like this though, itunes/apple should step up and refund the victims’ money.

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    This is totally amazing that iTunes has not stepped up and fixed it. It seems like more and more these days, Apple is ending up in the news for security issues. You would think a company the size of that one would be able to handle that kind of mess. It is sad when you think about it. I ended up going and getting giftcards to cover what I get on Itunes.

 
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