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Top Story: One change could prevent you from being a victim of this $400 million credit card crime spree

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Top Story: One change could prevent you from being a victim of this $400 million credit card crime spree
PHOTO COURTESY OF SHUTTERSTOCK

If you've been reading Komando.com for a while, you know there's a new generation of debit cards and credit cards that are a lot more secure than the old cards with the black strip on the back of it. The new cards have a computer chip instead, and it's been extremely effective in reducing cybercrime.

EMV cards, or PIN-and-chip cards, create a unique code for each transaction, instead of storing your personal information on that black strip. Sometimes, you also need to input a personal identification number (PIN).

If you're still using those old cards, call your card issuer and request an EMV card right away. Here's one scary reason why: A cybercrime ring know as FIN6 has been selling personal information collected from millions of cardholders.

They've been infecting point-of-sale systems with malware called FrameworksPOS (or Trinity) that collects your personal information from those POS machines, where you swipe your card when paying for something.

They infected thousands of POS systems and they're charging about $21 for each record. In others, if they stole your information, someone's paying them $21 to get it. That's it.

In total, it's believed FIN6 have sold $400 million worth of stolen credit card records. What can you do to protect yourself?

Be sure to get that EMV card right away.

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