Did you notice your new credit card looks different? Starting October 1, most large merchants require you to do a chip-based transaction rather than swiping a mag stripe. But is this really going to fix things?
Have you ever gotten a call from your bank saying your credit card was stolen, but it was still in your wallet? What's going on here? Card fraud costs $16 billion annually, and it's not getting better. Target, PF Changs, Michaels, Home Depot, who's next?
Find out how these big card heists are pulled off, why chip-and-pin won't solve the fraud problem, and how crooks compromised Apple Pay. See if your bank even bothers to use the security protections it could -- we'll have a mag stripe card reader so you can really see what's in your wallet.