By Al Sunshine, SouthFloridaReporter.com, Consumer Investigator, Oct. 8, 2015 – The email popped up in my In-Box recently and it surprised me a lot.
It claimed my Apple Store Account had a suspicious payment from Facebook, and I needed to check it out.
2 things made it suspicious: The email account was listed on Facebook; and it was not registered to any other financial services.
When I checked out the full header, it came from servers at “.aruba.it”
Unless Apple’s using Aruba domains to send out notices, I figured it was bogus.
Is it the old I-d Phising Scam?
You know, you get an email or call asking for information to confirm a possible bank account problem, or claim a big prize from the Nigerian Prince looking to give away billions!
You may be getting more of them soon.
Because effective October 1st. most vendors moved over the new new “Chip” Credit Cards, or so-called Smart Cards.
They have a sophisticated chip on them to better insure their use is legit and aid in making it harder to counterfeit them.
So why are we seeing more bogus emails, Phishing Attempts, to steal your ID or Bank Account Info?
Because the scammers are having a harder time making counterfeit credit cards and duplicating your confidential chip information.
So they’re reportedly going back to the old “Tried and True” Phising Emails.
In fact, the problem’s expected to be so bad over the coming months, the Better Business Bureau recently issued a Nat’l Warning.
Per the BBB:
The Better Business Bureau is urging all retail businesses to get new EMV chip card readers installed by October 1st, if they haven’t done so already.
Most countries – including Canada and Mexico – have required microchips in credit and debit cards for some time (80 countries so far, with 2.37 billion chip payment cards in use). The United States is catching up; by the end of 2015, 70 percent of credit cards and 40 percent of debit cards in the U.S. will have embedded security chips called EMV (for Europay, MasterCard and Visa). EMV cards will eventually replace magnetic stripe cards completely, and many banks and credit unions are already issuing EMV cards to current account holders.
The EMV cards allow consumers to use their cards globally, and they also help reduce card fraud and identity theft, and make in-store transactions more secure. The chip generates a unique, one-time code that is difficult to counterfeit but is needed for each transaction to be approved.
October 1, 2015, is an important deadline for American businesses; that’s when a “liability shift” is occurring that moves the responsibility for covering losses to the business where a fraudulent charge occurs. If a business does not have the new EMV reader, they are liable for the cost of any purchases made with a counterfeit card. In other words, the card issuer will no longer absorb the loss.
Businesses need to replace the old magnetic swipe machines as soon as possible. Most large retailers have already made the change, but many small and independent businesses have not. EMV readers run from under $25 for a basic device that plugs into a smart phone, up to about $300 for a countertop model with all the “bells and whistles.” They are available from major electronics retailers and online. A business’s credit card processor may be able to provide additional information or recommendations.
Many consumers have already received new credit and debit cards with the EMV chips (it’s the small metallic square). The only other noticeable change for consumers will be when they shop at retail stores with EMV technology; instead of “swiping” their card, consumers will “dip” the card into a slot in the terminal or, in some case, “tap” the card on a flat reader. It may take a few moments longer than the old swipe card, but the transaction will be more secure.
For more consumer information about the new Chip Cards:http://www.creditcards.com/credit-card-news/emv-faq-chip-cards-answers-1264.php