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Beware of new smart chip credit card scams

3 years ago17 views

October 1st was the deadline for retailers and credit card issuing companies to switch over to using the new EMV credit cards which contain a computer chip that creates and encrypts a new number every time the card is used, which will dramatically reduce the amount of credit card fraud.
Though be warmed, the EMV cards will not stop credit card fraud involved in online purchases where the chip is not used and some sophisticated scammers have already developed tactics to manipulate the EMV cards to their benefit when used in brick and mortar stores, but that is a story for another time.
For now, however, we should be happy because the changeover to the new EMV cards will dramatically reduce credit card fraud and that is good news.

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