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IC3 Alert: Chip-Enabled Credit Cards Still Vulnerable to Exploitation

Posted on 10/14/2015

A recent alert released by the FBI's Internet Crime Complaint Center (IC3) warns that chip-enabled cards may still be vulnerable to fraud as cybercriminals continue to look for opportunities to steal payment information. Per the alert, while EMV cards provide greater security than traditional magnetic strip cards, an EMV chip does not stop lost and stolen cards from being used in stores, or online or telephone purchases when the chip is not physically provided to the merchant, referred to as a card-not-present transaction. Additionally, the data on the magnetic strip of an EMV card can still be stolen if the merchant has not upgraded to an EMV terminal and it becomes infected with data-capturing malware. Consumers are urged to use the EMV feature of their new card wherever merchants accept it to limit the exposure of their sensitive payment data.

To view the alert visit: http://www.ic3.gov/media/2015/151008.aspx



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