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EMV chip-enabled card scams

EMV Credit & Debit Card Scams

New EMV chip-enabled cards have new consumer features and a more secure environment when conducting in-person transactions. A unique, one-time code that is sent to authorize the transaction cannot be replicated when using a chip-enabled card. This reduces the likelihood of fraud compared to a magnetic-stripe card which houses unchanging account data.

Scammers are taking advantage of the recent EMV card upgrades in the U.S. to contact consumers via email or phone, posing as their Credit Card Company or Financial Institution, and requesting that they update their account information. The email may contain untrustworthy links or ask for personally identifiable information. These emails may address individuals as “Dear Cardholder” or “Dear Account Holder”. These are strong signs of a scam.

Remember, Universal 1 Credit Union (U1) will not send unsolicited messages, emails or phone calls asking members to provide or update their account or personal information. Here are some additional tips to help detect scams:

  • Always be cautious of email links and attachments. Hover your mouse over the link to display the URL or the sending company’s name. If a bogus URL or no company name is displayed, refrain from clicking.
  • Remember to whom you provide your email address as protection from opening emails from unknown contacts. Some scammers hijack email accounts and can seem legitimate, posing as your Credit Card Company or Financial Institution.
  • Be wary of phone calls or even texts from supposed card issuers about EMV cards.
  • EMV cards will not stop fraud when making online purchases. Confirm you’re on a trustworthy site before making any online transactions (look for the https in the address bar or the little “lock” icon).

An email from U1 will most likely be short and to-the-point and not ask you to update your account through a link.

If you have any questions or concerns about emails, websites or unsolicited calls related to Universal 1, please email our Compliance department at compliance@u1cu.org. You can also call our eCommerce representatives at 800-543-5000 option 0 or 937-431-3100 option 0. 
We're available Monday - Friday 8:30 a.m. to 6:00 p.m. and Saturday 8:30 a.m. to 12:30 p.m.

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