SPRINGFIELD, Mass (WWLP) — It was December when Target came forward and announced they had a possible data breach.
In that Target data breach nearly 40 million people were affected. Now all the major credit card companies are working together to increase their own security.
Companies like MasterCard and Visa are forming a new cross industry group that would increase security across networks.
The New group will focus on using E-M-V Chip technology.
Here’s how it works.
The chip stores information, rather than the magnetic strips that we use now.
Experts say cards that have the chip are very difficult to counterfeit, that’s in comparison to the magnetic strips.
MasterCard and Visa had already set a deadline of October 2015 for retailers here in the US, but these chips are already being used in Europe and Asia.
But here’s the issue. Upgrading all the credit cards is not going to be cheap.
It’s estimated that it could cost up to ten billion dollars.
So while you’re waiting to see if or when this upgrade will happen, 22News has some tips on what you can do to try and protect your personal information.
Experts at Blueprint Computer Solutions say start with varying your passwords from one website to the next. They also say you should backup your personal information off-line on an external device.
Also, if you don’t have one yet, they say anti-virus software is essential to keeping your information secure.
But not all updates are legitimate. Some are new viruses! That’s why you want to make sure you recognize the software before you click the update button.