Transcript for New security warning of chips falling out of credit cards
Back now with those new concerns about your credit card that those chips used to protect your security could get loose and fall out. ABC's gio Benitez is here with the details. Good morning, gio. Reporter: Michael, good morning. Those extremely popular smart chips have largely eliminated the card swipe at many stores so a warning that could protect your money. Chip transactions are meant to make our cards more secure. Follow the instructions on the P.I.N. Pad. Reporter: What if that tiny piece of technology goes missing? Experts warn the chip in your credit card can fall out. They're on this pretty good but wear and tear, it could cause issue with the underlying glue. Reporter: This happened to reporter Jason Knowles of our ABC station WLS. I didn't realize for days. Reporter: Knowles says when he called his bake chase they told him if someone found the chip on the ground, that person could use it on another card. SHAWN Canaday says it can happen with any credit card. He ran tests with two cards of his own to prove the chip hack can happen. I basically peeled off a chip of two cards and swapped them and then took that card to a retailer and ran a transaction and the receipt you could tell because it shows the last four digits that it didn't match the card I actually used. Reporter: This isn't the first time possible security flaws have been exposed with chip cards. "Shark tank's" Robert herjavec showed Rebecca Jarvis how special software on a cell phone can swipe someone's credit card info just by being very close to it. Simply by putting this near your purse we're able to take your entire credit card information. Reporter: The electronic transactions association says the capturing of your card info is not so easily done because most consumers would be aware of a thief getting right next to their card. And when it comes to losing your chip, chase says it is rare to lose the entire chip or even a portion of it but in either event, quote, we strongly suggest replacing the card with a new account and card. And banking experts told us it's important to know that in these cases you have zero liability for any fraud. Zero liability but what do you do if you notice your card is missing or it's loose. The first thing you want to do is call your bank, get a replacement card. If it is lost you want to check your accounts, make sure there's no unusual activity in there and if there is, you can set up text messages and e-mails from your bank. It'll alert you if there is any unusual activity. They just came out with this. I thought we were so secure. We live and learn, right, robin,
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