SECURITY ALERT! Chip Removal & Fraud
Chip Card Removal & Fraud
In a recent news story, ABC 7 Chicago reported the chips falling out of a customers debit & credit cards.
While unlikely, a chip could fall out or off of the card due to excess wear and tear or intentional tampering. The concern brought up is that if the chip is found it can continue to be used in fraudulent ways.
"I peeled off the chip of two cards, and swapped them. I took that card to a retailer and ran a transaction. On the receipt you could tell that it didn't match the card I actually used."
If your chip does fall off of your card, please contact your bank right away and request a new one to prevent criminals from wrongly using your chip or information.
In the article, Tech experts say that it would require a lot of time and patience to get a chip out of the card. As a merchant, if you notice a card that looks tampered with, reach out to the bank or confirm the card number through your POS.
Doing our best to keep you informed & #secure!
The Arrow Payments Team
Interested in learning more about Arrow Payments secure solutions for your business? Shoot us an email at firstname.lastname@example.org for your free evaluation to bring you one step closer to #secure