Many of us have received credit or debit cards with additional security such as the the chip, but unfortunately it hasn’t helped much. Id theft has risen by 16% in the last year. When you go to check out while shopping at different retailers you may notice some stores have not switched over to the new chip technology causing you to have to swipe instead and the chip essentially being no use to you.
Well, this has some part to play but research by Lifelock shows there is a 40 percent increase in fraud places where your card is not present like online shopping or over the phone purchases. Security experts predicted online fraud would increase when the chip technology came out and it has.
Good news most companies have protection against fraud but some ways you can protect yourself is by setting temporary card numbers when shopping online or creating an account only for such purchases. Check with your bank or credit card company for fraud protection information and stay alert.