AG Roy Cooper warns of fraud with EMV chip technology

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Thursday, November 12, 2015

RALEIGH (WTVD) -- Attorney General Roy Cooper warns consumers who have recently gotten a new credit or debit card with EMV technology that they are still at risk for fraud.

Many banks, retailers, and credit card companies are transitioning to the EMV chip and getting rid of magnetic strips traditionally used on cards. Older cards generate the same transaction information with each use, so information can be stolen from credit cards swiped through payment machines that have been tampered with. Cards with the EMV chip protect personal information by creating a unique code for each transaction.

However, Cooper warns that there's no added protection if your card is lost of stolen. Scammers can still use the stolen card numbers to make illegal purchases online or over the phone.

Below are some tips to help prevent you from being scammed:

  • Keep your card safe. Store your credit and debit cards in a secure location when you're not using them. Know where your card is at all times.
  • Destroy unused cards. If your bank or credit card company sends you a new EMV chip credit card, shred your old one and dispose of the pieces.
  • Guard your PIN. If your card gives you the option of using it with a Personal Identification Number, make sure you memorize your PIN and keep it secret. Don't use familiar numbers like phone, address, birthday or Social Security numbers as your PIN.
  • Be cautious when shopping online. The process of paying online is the same regardless of whether or not your card contains an EMV chip. Continue to follow our tips for safe online shopping.
  • Check your credit report regularly. Monitor your credit to spot irregular activity. Under federal law, every consumer is entitled to one free credit report per year from each of the three major credit bureaus.
  • Report suspicious activity immediately. If you notice an unfamiliar charge or payment on your credit or debit card accounts, report it to the bank that issued the card right away. If you spot an unfamiliar loan or line of credit on your credit report, you could be a victim of identity theft and need to act quickly to close the affected account, file a police report, and report it to the credit bureaus.
  • If you believe you have been a victim of scam, report it to the Consumer Protection Division by phone toll-free within North Carolina at 1-877-5-NO-SCAM or file a complaint online.

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