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Author Topic: FBI issues credit card chip warning  (Read 3323 times)

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FBI issues credit card chip warning
« on: October 09, 2015, 05:54:41 PM »
Who would'a thunk it?         

The FBI issued a warning Thursday that new chip-enabled cards are still vulnerable to fraud and that consumers need to be diligent when using their plastic.

"While [the new] cards offer enhanced security, the FBI is warning law enforcement, merchants, and the general public that these cards can still be targeted by fraudsters," the agency said in the release.

The microchip in the new cards issues a unique code for each swipe that helps authenticate a transaction. Old cards hold the payment data on the magnetic stripe on the back of cards, which is easy for fraudsters to steal and put on fake cards.

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