COLUMBUS (WCMH) — The new chipped credit cards were routed as being safer and more secure since they integrate EMV (Euro pay, MasterCard and Visa) and PIN technology.
Matt Curtain from Interhack says, the current generation of cards with chips can be defeated.
“You have to have more sophisticated manufactured mechanisms available. You have to have more information, that you are able to get to be able to encode the right data onto a chip in order for it to be used. So, that doesn’t mean that it’s impossible to break, it just means it cost more to fake,” said Curtain. “We are in an arms race with criminals. Right now, it costs criminals more money to copy our credit cards. One of the weaknesses of the chipped card, the number of merchants that still don’t have the technology to support the system, preventing the full security that chipped cards offer.”
Curtain also says we should never use debit cards.
According to Curtain, we use the debit cards because the bank gives them to us, but there is no advantage for the consumer. If you use your debit card and it’s stolen or compromised, a thief can wipe out your account and it is a full job to try and recover your funds.
If your credit card is stolen, you are only held accountable to a certain amount of money.
How can consumers protect themselves to avoid credit card fraud?
“Don’t leave your credit cards out, don’t leave your wallet out and don’t give your card’s information and don’t have a million of the cards,” says Curtain. “ Make sure you watch the accounts and control access to the cards, then your job is done.”