• The Street, Monday, March 9, 2015 10:34 AM

Apple Pay has come under scrutiny because of apparent credit card fraud, but multiple sources say a fix is in the works in the aftermath of a flood of news stories on an apparent security flaw. The problem is simple. With stashes of millions of stolen credit cards details harvested in the recent breaches atTarget, Home Depot and the others, thieves have realized that an iPhone can, in effect, be transformed into a credit card substitute by loading it with a stolen number. Before, those criminals could only shop at online retailers. Now, with an iPhone, they can walk out of retail stores with merchandise they can sell. 

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