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Clark Howard: ATM fraud

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Updated: 5/08/2013 9:38 am

JACKSONVILLE, Fla. -- Fraud involving your credit and debit card has been exploding. One of the areas that has been a real problem has been with your ATM card.

You go to an ATM machine and enter a secret code so you think it's safe, right? Well criminals have cracked the code now. 

They are now duplicating your ATM card, going to a machine and stealing your money. 

New rules are going into effect for ATMs and under these new rules the ATMs are going to be able to accept and verify new ATM cards you may receive in the next few months.

They have a special chip in them, to go along with your pin code. 

The beauty of this special chip, is that criminals have not figured out how to crack the code of the chip into the card.

It should greatly reduce the amount of ATM fraud and debit fraud that's occurring. 

So when you get that funny new ATM card, you'll know why. It's to save you hassle.

For more information visit Clarkhoward.com.

Watch Clark Howard weekday mornings on Action News This Morning on FOX30 beginning at 7 a.m.
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