Credit card security upgrade also a chance for fraud

The scammers are striking during the rollout of a new technology to thwart scamming.

It all has to do with the new chip-embedded credit cards.

Credit card companies have been mailing out credit and debit cards that offer greater security against fraud. The new cards are embedded with a chip that holds your payment data and provides a unique code for every purchase.

To use the card, you insert it into a “reader” for several seconds rather than swiping it. For every purchase you make, the chip generates a unique code that is good only for that transaction. These replace the cards that have only a black magnetic stripe that security experts say can be easily copied and misused.

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