Alexander Lewis 
Jan 04, 2024
Tech giant Apple is going to settle the petition regarding the iTunes gift card fraud, accusing it of willingly letting the fraudsters trap consumers and keeping the stolen funds.
In a filing submitted to the federal court in San Jose, California, the agreement is mediated by a third party wherein Apple and the complainants have agreed to close the case on materialistic terms.
To bring about the settlement, a draft is to be presented before the US District Judge Edward Davila for approval. Davila is the judge who thwarted Apple’s plea to dismiss the case in June 2022, Reuters reported.
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The scam involves the deceivers targeting iTunes card holders via phone calls, persuading them to purchase App Store and iTunes gift cards or Apple Store gift cards to pay taxes, bills, bail and debts.
Following this, the victims are then required to share the codes on the backs of the cards. Meanwhile, the complaint says that Apple would only transfer 70pc of the stolen amount into tricksters’ bank accounts and keep 30pc as a “commission”. Victims collectively lost "hundreds of millions of dollars" in the scam, added the complaint.
The lawsuit obliges Apple to compensate all redeemable cardholders in the US who were victimised from 2015 through July 31, 2020, and weren’t repaid by the company.
