Why Chip Credit Cards Can’t Stop Fraud

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Credit Card fraud is a $16,000,000,000 per year problem in the United States alone. Even though credit cards now come with a chip that holds the data encrypted and is supposed to eliminate the cloning of your Credit Card, thieves are using skimming devices to swipe data through the cards' magnetic strips stealing your digits - every day, every hour. Credit Card companies are fully aware of this security flaw but the issue is still there because it's taking a lot of time and a lot of money to make the switch.