Chips in credit cards could pose security risk

SYRACUSE, N.Y. (WSYR-TV) - Those tiny little chips in all of our credit and debit cards get loose and fall out.

In most cases, the chip is making shopping more secure, but if that little piece of technology gets lost, you may have a big problem.

"They are on there pretty good but over time, a lot of wear and tear like I said, it could cause an issue with the underlying glue," says cybersecurity expert Shawn Kanady.

If the chip goes missing, the whole card is compromised- and so is your bank account. Experts like Kanady say someone else could find that chip, put it in their card, and steal your information.

"I basically peeled off the chip of two cards, and I swapped them. I then took that card to a retailer and ran a transaction. On the receipt you could tell that it didn't match the card actually used," Kanady adds, after performing an experiment using two of his own cards.

This is the second major flaw to impact chip users. Business tycoon Robert Herjavec  showed ABC News how a special cell phone technology could steal credit card information just from being close to someones wallet.

The Electronic Transactions Association says stealing information that way is highly unlikely.

As for the chips falling out, Chase Bank says it is rare to lose them but if you do, it's important to get a new card immediately.Bank associations also advise frequently checking your account for any suspicious activity, and signing up for alerts from your bank or credit card company. 

More Stories

Don't Miss

Trending Stories

Latest News

Video Center