Beware of a new con called “shimming”

Scammers have typically harvested your payment information with skimmers – a device inserted into ATMs and other payment terminals where you swipe your credit or debit card. The downfall for thieves is EMV cards, the chip located on your debit or credit card, reduce the severity of card skimming due to the manner in which…

FTC warns public of chip card scams

The Federal Trade Commission is joining the FBI in warning the public of scammers who are taking advantage of consumers who know little of the new EMV card. According to the FTC, scammers are emailing consumers posing as their card supplier. The con-artists tell the victim in order to receive their new EMV chip card, they will need…

FBI: EMV cards still vulnerable to scammers

By the end of October, many banks will have dished out new microshipped debit and credit cards to consumers. Known as EMV cards, this new piece of technology provides cardholders with better security. How you may ask? According to creditcards.com, every time an EMV card is used a unique transaction code is created that can’t…