THE EMV LIABILITY SHIFT BREEDS A NEW SCAM IN ’16

lottery_phone_scamThe shift to EMV compliant cards was not going to happen overnight and according to the founder of Scambusters.org, Audri Lanford, this ‘lag time’ is a breeding ground for crooks…”Delays in distributing the new cards … are being exploited by scammers,” says Lanford who also states “The problems are that some card issuers have not yet sent them out to their customers while other issuers haven’t fully explained in understandable language why their cards have been changed,” she said. “Either way, this gives scammers a golden opportunity to phone or email people explaining that their cards need to be updated or replaced and then ask them to confirm card and account details.”

In a nutshell, Singular Payments advises that giving out any information by phone or email that can grant someone access to anything related to your identity and/or finances is never a good idea. Scammers seeking information to rip ‘you’ off continuously target confused consumers so stay alert to suspicious inquiries.

EMV ‘lag time’ results in more criminal play