Source: National Cyber Security – Produced By Gregory Evans
Advanced technology in credit and debit cards are helping in the fight against identity theft and consumer fraud, but local experts caution that even the new smart cards are not completely foolproof. The Utah Division of Consumer Protection warned consumers Wednesday to beware of suspicious emails or text messages that may ask for their personal identity or account information using recent changes to smart chip credit and debit card accounts as a trap. The federal government required retailers to adopt over a billion Europay, MasterCard and Visa — or EMV — smart chip enabled cards by Oct. 1 in an effort to combat fraud. The new EMV chip technology encrypts the credit or debit card information every time the consumer uses it for an in-store transaction. However, fraudsters have taken notice of the proposed change and are trying to scam consumers by sending messages that seem to be from a bank or credit card company. The fake messages suggest that the consumer should provide information through either a link or by responding to the message before receiving a new EMV smart chip card. But in reality, the message is just a ploy to steal their personal information. “If you receive […]
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