Newly Issued Credit Cards Avenue for Email Scams

Commonly used email scams brought back with new wave of electronically chipped credit cards

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Sep 24, 2015, 12:56 ET

CHICAGO, Sept. 24, 2015 /PRNewswire-USNewswire/ -- In efforts to make transactions with credit cards safer, the major credit card companies have been issuing EMV "smart chip" cards to account holders. Though millions of EMV—Europay, MasterCard, and Visa—cards have already been issued to cardholders nationwide, an October 1^st deadline has been set to deliver any remaining computer chipped cards. With this push comes an opportunity for scammers to use old tricks to install computer malware or phish for personal information via fraudulent emails.

The small metallic square located on the front of the credit card is an imbedded computer chip that creates a unique transaction code that cannot be used again, which differs from the magnetic strip cards previously used that store account details that don't change from transaction to transaction. The use of these cards makes it more difficult for fraudsters to access account information.

"As credit card companies are implementing smart chips to help card holders keep their information safe and fight against scammers, this period of transition is an opportune time for thousands of people to become scam victims through bogus emails," said AARP Illinois State Director, Bob Gallo.

With fraudulent emails already circulating out to cardholders, AARP Fraud Watch Network has compiled tips and things to look out for when receiving emails relating to chip-imbedded credit cards:

Legitimate emails from card issuers should be short, to-the-point notifications that your new EMV card is being mailed. They should not include links or attachments promising details or urging action to "update your account," that's the tell-tale sign of scammers.
Don't trust links in email. Before clicking always hover your computer mouse over the link, if it doesn't display the sender's company name assume the worst. It's safer to access a business website by typing its URL yourself, not by clicking provided links.
Bogus PayPal emails have been circulating, with malware loaded "update your account" attachments. Legitimate PayPal emails never include attachments.
Authentic emails from card issuers will address you by name and include specific references to your credit card, such as the last four digits of your account number. Emails from PayPal, eBay, or other businesses will also include your name. Vaguely addressed emails to a "cardholder," "customer," or "account holder" are scams.
Even if the email includes your name, don't trust it unless you previously provided your email address to that business. Email mailing lists—with account holder names—can be purchased by scammers.
Be suspicious of phone calls or text messages claiming to be from card issuers concerning EMV cards. These could be attempts to get account and personal information.

In 2014, AARP launched the Fraud Watch Network to arm Americans with the tools and resources they need to spot and avoid scams and identity theft. But scammers are still out there, making every attempt possible to cheat consumers out of their hard-earned money. The public can sign up for free to receive Fraud Watch Network alerts and more at www.aarp.org/fraudwatchnetwork.

SOURCE AARP Illinois