https://finance.yahoo.com/news/chips-credit-cards-dont-stop-fraud-online-200041701.html

To card issuers’ credit, they warned us that this exact thing could happen. EMV—originally short for Europay, MasterCard and Visa—is designed to stop card counterfeiting, in which a thief copies the account data stored on a card’s magnetic stripe and uses that to make a new card." data-reactid="26">To card issuers’ credit, they warned us that this exact thing could happen. EMV—originally short for Europay, MasterCard and Visa—is designed to stop card counterfeiting, in which a thief copies the account data stored on a card’s magnetic stripe and uses that to make a new card.

It’s worked exceptionally well at that: In June, Visa (V) announced that at merchants accepting EMV purchases, counterfeit card transactions plunged by 75% from September 2015 to March 2018. But that hasn’t made a real difference in the larger universe of fraud." data-reactid="27">It’s worked exceptionally well at that: In June, Visa (V) announced that at merchants accepting EMV purchases, counterfeit card transactions plunged by 75% from September 2015 to March 2018. But that hasn’t made a real difference in the larger universe of fraud.