The recent change to chip-based cards by the credit card industry has scammers taking advantage during this transition period and the Federal Trade Commission is warning consumers of potential scams.
The process involves scammers sending out emails to individuals posing as their card issuer. The scammers would then claim that in order to issue a new chip card, individuals need to update their account by confirming some personal information or clicking on a link to continue. During this process, identity theft can be committed or a malware can be installed on your device.
The FTC recommends not to trust links in emails and to contact your credit card issuer directly for additional details. More details can be found in the FTC blog post.