Category: Business

Business

[Fox Business] Multiple Walmart stores in New York have had incidents of credit card skimmers in July

Some of Walmart’s stores in New York this month had incidents of credit card skimmers at registers.

NewsChannel 9 reported in mid-July that the devices were found in 14 of the retailer’s locations across the Empire state. The installations took place between July 2 and July 5, according to the outlet.

Skimmers facilitate the theft of consumer’s information for those who affix them to credit card machines. 

In a news release, the Auburn Police Department said Walmart employees became aware of one of the credit card skimmers at the city’s location on July 5, three days after it had been attached to the terminal. In Camillus, another of them had been put on lane No. 5, the Camillus Police Department reported in a July 7 Facebook post. 

LAW ENFORCEMENT SEEING RISE IN CARD SKIMMER THEFTS

Two Walmarts in Maine also reportedly saw such devices earlier in the month.

More recently, on July 21, a card skimmer cropped up at a Walmart in Niagara Falls, adding to the locations where they have been found, per WGRZ.

“Providing customers with a safe shopping experience is a top priority. We’re continually reviewing protocols and adding enhanced security measures to better protect in-store-transactions,” Walmart told FOX Business in a statement. “Also, this situation remains an on-going criminal investigation, and we’re actively engaged with various law enforcement agencies.”

“Customers concerned they may have been impacted can contact their card provider or Walmart Customer Care Team at 800-925-6278.”

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Walmart’s retail presence in New York includes nearly 100 stores, according to its website. In the U.S., the retailer has over 3,500 total supercenters. 

When using point-of-sale terminals, the FBI has said people should be wary of “anything loose, crooked, damaged, or scratched” to help avoid becoming a victim of a card skimmer. The practice of pulling at the terminal or keypad to see if it comes off can also help, according to the agency.

In a video published in April, the El Cajon Police Department in California said to look for stickers placed on credit card readers by stores as a signal for a legit terminal. That department handled a dozen skimmers that had been placed on devices at various retailers in a one-year period, it said.

CRIME REMAINS TOP ISSUE FOR WALMART, RETAIL EXECUTIVES

Cards that offer chips or tapping to pay generally have more protection from the devices compared to magnetic strips. 

Thieves also often put skimmers on gas pumps and ATM machines, with the illegal practice wracking up over $1 billion in costs on an annual basis overall, according to the FBI.

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Business

[Fox Business] Apple CEO Tim Cook reportedly once received denial for Apple Card

Tim Cook reportedly encountered temporary difficulty early on in obtaining one of Apple’s credit cards.

When the Apple CEO tried to get an Apple Card prior to the payment option’s official debut in 2019, he received a rejection, according to The Information. Resolving it reportedly required an override from the Wall Street bank that the tech company partnered with on the credit card, Goldman Sachs.

Four anonymous sources for The Information apparently attributed Cook’s temporary denial to a measure by credit bureaus to prevent the impersonation of prominent individuals.

The outlet reported Tuesday on the incident in a larger piece about the relationship between Apple and Goldman Sachs. FOX Business reached out to both entities for comment.

APPLE SCALES BACK VISION PRO PRODUCTION PLANS ON DESIGN CHALLENGES: REPORT

The total number of people using Apple Cards has since reached around 10 million, according to The Information. 

That comes after Americans began having the option of getting the Apple Card in August 2019. The iPhone maker had revealed it would team up with Goldman Sachs and MasterCard to bring consumers the card in the spring of that year.

The company rolled out the high-yield savings accounts it started to offer to Apple Card holders in April. Those were also offered via Goldman Sachs.

People started 240,000 of the Apple savings accounts in the initial week they were offered, with the accounts seeing a massive amount of funds – $990 million – in the four days after they became available, Forbes reported.

APPLE HITS $3T IN MARKET CAP, BUT CHANGES COULD BE COMING TO ITS CREDIT CARD: REPORT

Apple’s payment services fall under its overall Services segment.

For the second quarter, net sales for the Services segment came in at $20.9 billion, climbing nearly 5.5% year over year.

APPLE’S SECOND-QUARTER REVENUE AND EARNINGS COME IN ABOVE ESTIMATES

Those net sales were part of the $94.84 billion overall generated in the three-month period by Apple, which also has iPhone, Mac, iPad and wearables, home and accessories segments. Its quarter net income was $24.16 billion.

“For Services, we expect our June quarter year-over-year revenue growth to be similar to the March quarter, while continuing to face macroeconomic headwinds in areas such as digital advertising and mobile gaming,” Apple CFO Luca Maestri said in May.

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