iPhone Resellers Battle Fraud

A New York-based reseller of unlocked iPhones says lots of buyers are trying to give him stolen credit cards and false information to get the gadget on the cheap -- or for free. In fact, he says, fraud rates for iPhone purchases are at least 20 times higher than they are for any other handset he sells.

I just talked to a New York-based reseller of unlocked iPhones, and he gave me some very interesting statistics: Two out of 10 people who order iPhones from him try to use stolen credit cards or invalid accounts.

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