CBS News reports that the credit card chip is not as safe as it was once perceived to be. With thieves becoming smarter and more technologically savvy, it seems that hacking a card with a chip is becoming just as easy as with a magnetic swipe. “It only takes small modifications to skimming devices to bypass the chip and enable unauthorized uses of these cards, just like with the magnetic cards,” the article states.
Consumers must be as vigilant as ever in keeping track of one’s finances. Make sure you check your credit card transactions daily and report any suspicious activity immediately to your bank.