What is Apple ID loan scam? How to stay safe from the latest online fraud?

Authorities in China have arrested fraudsters involved in Apple ID loan scams, in which they tricked iPhone users into giving their Apple IDs and used those to exploit the victims.

Some of these scammers even used the name of Chief Executive Officer (CEO) of Apple, Tim Cook, to gain the trust of victims, the Techibee reported. Chinese authorities have arrested over 40 people involved in the scam. They have tricked over 20,000 people and extracted over 130 million yuan ($181,000,000).

What is the Apple ID loan scam?

Many people in China have become victims of the Apple ID loan scam. In this, the scammers extract the Apple ID from iPhone users posing as company employees and then use it to exploit them.

The Apple ID loan scam in China reminds all iPhone users worldwide to secure their digital identities.

How to stay safe from Apple ID loan scams?

People usually use smartphones for personal and financial tasks, making them the perfect target for scammers. Digital security is a must, as it protects an individual's personal and financial information.

To stay away from the Apple ID loan scam, users have to beaware of their digital security. Authorities suggest not sharing account details, personal accounts, and Apple IDs if you're applying for a loan or for any other reasons.

The phishing email usually comes via an email, text message or phone call. It's easy to fall for many internet-related clients as these messages usually appear legitimate but aren't.

Apple phishing scams have become common in the last few months. The email might look like it's from the App Store or Apple Pay account.

Apple ID and password are crucial for an iPhone user as they give access to the App Store, Apple Music, iCloud, iMessage, FaceTime and other information, including contacts and payments.

Other Apple ID scams

Scammers have been using various ways to extract Apple IDs from iPhone users. In most cases, they pose as Apple support staff and say that your Apple ID or iCloud has been compromised. They ask for the password claiming that they would fix this. Sometimes, they leave an automated voice message directly to call a specific number for Apple support.

In some cases, scammers send emails saying that your Apple ID was used by someone to make a purchase or it has been locked or your Apple Pay has been suspended due to suspicious activity.

(With inputs from agencies)