Cyber-criminals are finding ways to exploit tech Goliath Apple’s newly induced payment method i.e. Apple Pay, as per top cybersecurity solution firm Trend Micro.

Despite the fact that no cyber attack on Apple Pay have been accounted for yet, Trend Micro’s ‘Security Prediction for 2015 and Beyond’ cautioned that cybercriminals will expand assaults on Apple pay.

“It’s safe to assume that as early as now, the bad guys are already looking for vulnerabilities to exploit in Apple Pay. They will continue to scrutinize NFC (Near Field Communications) as well,” Trend Micro mentioned.

Hackers Looking To Exploit Apple Pay Says Trend Micro, But Apple Is Sure That Their Mobile Payment Method Is Quite Safe:

Apple Pay is a versatile mobile payment and a computerized wallet service by Apple. It lets certain Apple cell phones make installments at a retailer and online checkout. Trend Micro said, however, it is yet to see genuine assaults and endeavors to break Apple Pay backbone system embodying NFC and Passbook (which holds clients’ card data), cyber-crooks utilized the most recent iPhone as social engineering bait two months before they were even launched.

“We will see new threats specifically target mobile payment platforms in the next few months akin to the Android Fake ID vulnerability, which allowed cybercriminals to steal affected users’ Google Wallet credentials,” Trend Micro said.

As per Apple, Apple Pay is “more secure” than a conventional credit/debit card as card number and character isn’t imparted to the trader, and the card numbers aren’t stored away on Apple phones or servers.

Trend Micro VP (technology and solutions) JD Sherry elaborated that this payment ecosystem will continue to evolve.

“Massive transformation is upon us and we will continue to see threat actors trying to manipulate NFC as certain platforms gain momentum due to their significant following and user’s penchant for adopting the latest and greatest technology,” JD Sherry further said.

The report further included that focused cyber attacks will keep on reproducing in 2015, after cyber-criminals had breached security vaults in the US and China.

“Trend Micro’s threat defense experts predict hackers within countries such as Vietnam, the UK and India will pursue the use of targeted attacks and we will see attacks against non-traditional countries like we’ve seen recently against Malaysia and Indonesia based organizations,” it added.

Also, dangers around banking will keep on becoming more serious as more interesting cyber attacks against financial organizations develop, the report said.

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