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Experts Warn of the Burgeoning New Smart Chip Credit Card Email Scams

Within a few days of the expiry for business houses to install the all new smart chip credit card readers, scamsters have yet again stumbled on a fresh way to assault Internauts and their money, cautioned security experts, as per news reported by thedenverchannel.com on October 5, 2015.

When the user swipes his card, it transmits his card number, but, with the aid of a chip card, a new number is created and encrypted for each transaction.

Merely, 40% of Americans possess the new-flanged chip cards. Therefore, scammers have discovered a fresh way to exploit the remaining 60% of Americans who still don't have these cards.

The modus-operandi employed by the scammers in this latest scam is relatively classy. They contact their target individuals by fake emails while posing as their victim's credit card issuing company's executives. They notify the individuals that to get a fresh EMV chip card, they require to either upgrading their account's private information by confirming it or by clicking on a URL to start the process.

In case you provide your private information in reply to the notification received, your entire information lands in the hands of the scammer who can then employ it to make an identity theft victim. However, if the link enclosed in the email is clicked you may end up downloading malware that shall steal the personal details from your system including your SSNs, passwords and classified financial information that can be employed to make you an identity theft victim.

So how will you adjudge if the email impersonating your credit card issuer is indeed legitimate?

Firstly, genuine emails from card issuing companies should be short, precise and to-the-point saying that your fresh card is being mailed to you, maybe you can expect it within ten days time period. These emails should be devoid of any kind of links or attached files that promise details or recommend action to upgrade your account or anything of this sort which indicates something phishy.

Moreover, do not blindly trust the emails that posses your credit card firm's logo. Cross-verifying the address of the email sender is a better way to know the email's legitimacy.

» SPAMfighter News - 10/16/2015

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