US Secret Service issues ‘chip switch’ card scam warning

Secret Service warns of chip card scheme — Krebs On Security — “The US Secret Service is warning financial institutions about a new scam involving the temporary theft of chip-based debit cards issued to large corporations. In this scheme, the fraudsters intercept new debit cards in the mail and replace the chips on the cards with chips from old cards. When the unsuspecting business receives and activates the modified card, thieves can start draining funds from the account.”









MCX member Target to support Apple Pay

US discount retail giant Target has become the latest member of retailer-led consortium MCX to reveal its intentions to support Apple Pay, following Best Buy’s announcement that it will roll out support for the NFC mobile payments service this year... More




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