Tuesday, August 24, 2010

Beware! Money laundering through iTunes in UK

Normally I do not tend to feature these kind of articles on this blog, as this may tend to impart some negative information to a lot many individuals, but this one is being featured here to make you aware of keeping your finances and your money safe.
12 individuals have recently been charged in UK, with laundering huge amounts of money through iTunes. They use to upload music tracks and put them up for selling through iTunes' digital music delivery services. In total, they were able to launder a total of $300,000 across just 4 months.
Just for your records, if I had scared some iTunes user with this article, this scheme does not reveal a security vulnerability with iTunes or any of other software company's services, this method stands as one of the many ways people use to steal money through credit cards.
If ever you see a third party transaction on your bank statements, just contact your bank and they should be able to help you with getting back your money.

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