MEMPHIS, TN (WMC) - The Better Business Bureau is issuing a warning about a new way scammers are getting information from you chip-enabled credit and debit cards.
It’s called shimming. Not skimming, but shimming. Thieves have now found a way to alter chip readers through a thinner, less-bulky device.
“Anything that can be invented can be hacked. If somebody can think it up somebody else can think up how to invent it,” said Nancy Crawford of the BBB.
Here’s how it works: Scammers insert a shim -- a paper thin device -- into the slot of the card reader. When you slide your card into the reader of an ATM, gas pump or at your favorite shop, the shim copies and saves your payment information.
“All the crooks have to do is use a special card so they walk up to the terminal and insert the special card to retrieve the information and it just looks like they are using the terminal to make a purchase,” said Crawford.
To prevent you from becoming a target of the scam, the BBB says take notice if chip readers have a tighter-than-normal grip on your card. And always keep a close eye on your bank statements for any suspicious charges.
Another way to prevent yourself from falling victim is to switch over to contact-less payment methods like Apple Pay or cards where you tap to pay.