So much for those chip-enabled credit cards, the ones that were promised to protect your information. Hackers have found a way to beat them; it’s called, ‘shimming’.
Here’s how it works: scammers insert a super-thin device with a microchip and flash storage into the slot where you slide your credit card with those new chips. The ‘shim,’ as it’s called, copies and then saves your information and by the time you find out, it’s already too late.
But, the Better Business Bureau is trying to get out in front of it.
Bryan Oglesby of the Better Business Bureau says, “If you insert the card and it’s very tight, that could be a sign. So make sure that you report it to the merchant… As consumers, we want to be aware of scams happening; be aware of these new techniques.”
The Bureau also says it’s important to continually check your account and set up alerts in case you do get hacked.
It also recommends using tap-and-pay, whether it’s with your card or with your smartphone. They say that’s less vulnerable to the bad guys.