Revolut - Fraudulent Transactions

So what is the most likely thing happening here?

1) People are clicking on some link and their phone is compromised.
2) They don't realise that their phone has been compromised.
3) The scammers are in control of the phone.
4) They find the credit card details on the phone (?)
5) They apply to add them to Apple Pay or Google Pay on their own phone.
6) Revolut sends a code to the compromised phone which the scammers have access to.
7) They complete the addition of the card to Apple Pay and then spend the money.
8) They do this during the night so that the victim is asleep and does not notice it.

In the morning they see that their Revolut account has been cleaned out.
They complain to Revolut but Revolut tells them that they authorised the addition of their phone to Apple Pay which their phone did.
 
How could I tell if my phone is compromised?

Why is it only Revolut which is being reported? Is it also happening to BoI and AIB customers? We would expect to hear from BoI and AIB customers to say "My account was cleared out while I slept but when I phoned AIB the next morning, they refunded me the money in full."
 
losttheplot said:
but it claims Ireland is the most phished country in the world
Click to expand...
It wouldn’t surprise me. Ireland is at the centre of the Venn diagram:
1. English speaking - much easier for the organised crime groups as no language barrier
2. Spoofing numbers for calls and SMS seems very easy for Ireland. There seems to be no real action from regulator/industry yet
3. Member of Single Euro Payments Area (SEPA) means very easy to wire funds to another bank in another jurisdiction. Makes detection much more difficult
4. Increasing preference of merchants for card payments over direct debit/credit transfer/cash
 
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