The number of Danes using the MobilePay app from Danske Bank – which allows customers to make purchases, transfer funds and complete other financial transactions over their mobile phones – is approaching two million.

But that number includes criminals who have learned how to cheat the system, according to MetroXpress

Stolen credit cards and burner phones
The crooks steal or buy credit card information and then load it onto anonymous prepaid mobile phones to create MobilePay accounts.

The fraudsters then use the app to shop online and in shops, or use it to withdraw funds from ATM machines, until the card is eventually blocked.

The police contend that MobilePay’s security is weakened by the fact that users are not required to use their NemID.

“They are exploiting a vulnerability in the MobilePay system,” Martin Kofoed, a spokesperson for the Cyber ​​Crime Centre, told MetroXpress.

“There are currently a handful of ongoing cases against organised non-resident criminals who steal or buy credit cards and then create MobilePay accounts, typically on phones with prepaid cards.”

High payout, low risk
Kofoed said the “organised and systematic fraud” can reap large dividends before the cards are finally closed down, and although they have leads on four or five swindlers who have used MobilePay to steal from ATMs, it is hard to know how many purloined cards are being used to cheat shop owners.

READ MORE: MobilePay changing the way Danes shop

Danske Bank said the Mobile Pay system was 100 percent safe and that customers were completely covered if fraud should occur.

“Fraudulent use of MobilePay is less common than credit card fraud," JesperNielsen, the head of business development at Danske Bank, told TV2.

“We are well aware of the handful of cases being investigated right now, and we quickly notify police if we see any unusual transactions.”