To combat counterfeit credit cards and illegal robbery of your hard earned cash, new and advanced chip based credit cards in a system dubbed EMV (Europay, Mastercard, Visa) are being distributed and some companies are now allowing use for these in their stores. “We’ve seen the massive fraud. We’ve seen the Home Depots, the Targets, so clearly there’s a problem that needs to be resolved,” private investigator and IT expert Coleman Ryan, said to http://abc13.com
If the stores did not order these machines, it may be too late because, according to www.baynews9.com,”Oct. 1 was the deadline for businesses that accept credit cards to be prepared to handle transactions with new chip-embedded cards, or find themselves paying the bill in the event of fraud.” www.fox9.com explained that “Instead of swiping your card at the checkout, you’ll insert it into a machine with a slot similar to that at an ATM. Keep your card in the slot until the machine tells you to remove it. Unlike magnetic strip cards, chip cards need to be left in the reader for a few seconds to work.” Do not worry if a store you are going to, do not use these advanced machines as you can still swipe, but it makes you vulnerable to fraud.
If you are the 60% of people who still don’t this type of card, when looking to acquire one of these cards beware. www.thedenverchannel.com stated that scammers are trying to, over email, phone, or message, contacting people to steal their personal information, by posing as your credit card company and asking for your personal information. If you don’t know if your “credit card company” is actually your credit card company, here’s some tips. If they are real real then they will provide your name (instead of identifying you as customer or cardholder) and some information about yourself, such as 4 digits in your credit card number. The frauds will mostly ask for things such as your name and your address, so be careful.