Scammers targeting new chip technology - WNEM TV 5

Scammers targeting new chip technology

Posted: Updated:
SAGINAW, MI (WNEM) -

Banks are moving to new technology in debit and credit cards.

The EMV chip is supposed to make transactions safer by issuing a unique identification for each individual purchase the cardholder makes.

The black magnetic strip currently used on credit and debit cards transmits the same information every time you swipe it.

According to the Federal Trade Commission, online scammers are sending out fake emails to consumers who are expecting these new chip and pin cards in the mail and they're posing as credit card issuers.

These emails instruct people to confirm personal information or click on a fraudulent link to receive their updated credit card with the new chip technology.

If you're suspicious of any communication you receive, call your bank before giving out any personal information.

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