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Apple Pay Stung with Reports of Fraud, Apple Prepares for Watch Launch

3/06/15 7:37 AM EST
Apple's Pay systems has been stung by reports of fraud. The fraudsters are said to use credit card data stolen in recent breaches of big retailers including Target and Home Depot. About 80% of the unauthorized purchases have, ironically, been made at Apple stores. The Apple Pay system itself hasn't been penetrated by hackers but rather the fraudsters are entering stolen card data into into the system which can be used to make purchases. Apple is also getting ready for a Monday presentation where its widely expected the watch will be unveiled. Apple is also reportedly working on a waterproof iPhone.
Stocks in this video: AAPL
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