Beware: Thieves exploiting iPhone security feature to access bank accounts.

Thieves can access your bank account through Apple Cash on your iPhone, as it is a peer-to-peer money transfer service that lacks buyer protection. A woman lost over $3,000 from her bank account via Apple Cash. To protect yourself, set up your Apple Pay account with a credit card instead of a debit card, watch out for phishing text messages, and never give up 2-factor authentication codes. Apple provides resources to help users avoid scams and recognize fraudulent activity.