in ,

New Chip Card Scam Warning from FTC

Image Credit: https://www.flickr.com/photos/z0/16107292990

If you haven’t yet received your new chip-card (aka EMV card), beware of a new scam!

As of September nearly 60% of consumers have not yet received their new chip-enabled cards. And this has opened up new opportunities for the scammers.

According to a chip card scam warning from the FTC, how this one works is they send out fake emails pretending to be credit card issuers. They tell you that you need to update your account before they can send your new card. So they ask you to click on a link to either update your personal information or to continue the process.

And then, of course, you click on the link and they either use your personal information to steal your identity and/or they install malware.

According to the FTC:

So how can you tell if the email is from a scammer?

  • There’s no reason your card issuer needs to contact you by email — or by phone, for that matter — to confirm personal information before sending you a new chip card. Don’t respond to an email or phone call that asks you to provide your card number. Period.
  • Still not sure if the email is a scam? Contact your card issuers at the phone numbers on your cards.
  • Don’t trust links in emails. Only provide personal information through a company’s website if you typed in the web address yourself and you see signals that the site is secure, like a URL that begins https (the “s” stands for secure).

I realize most people can spot scam emails. But this one seems to get past most people and they fall for it. Don’t get caught in their trap.

For further information, here is the warning from the FTC.

What do you think?

0 points
Upvote Downvote

Written by Lisa Jennings

Lisa has been helping people create budgets and get their bank accounts in order for over 15 years. As a conference speaker and presenter at financial events, Lisa enjoys helping people get their finances under control. You can reach her at lisa@bankscoop.com.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Keycorp Close To Buying First Niagara

Money.com’s Best Banks In America 2015-16