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Expert: credit cards are not fully secure

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Another week and another credit card hacking at a major retailer. This time it was Michael's craft store. Consumers are uneasy because current credit card technology is antiquated.

"The fact is you cannot protect your credit cards, you can't every time you give it out it is vulnerable to fraud," says Robert Siciliano, McAfee identity theft expert. He says the magnetic strip technology of our credit cards is easy to duplicate. But more secure chip and PIN cards, as they're called, are still years away from being the norm in the United States. He says the only solution is paying attention.

"People are checking their Facebook pages every day why not check their bank or credit card statements daily as well," he says.

9 out of 10 consumers surveyed by BillGuard only glance at their monthly statements and rarely go line by line. Others rely on banks to watch out for fraud, says BillGuard CEO Yaron Samid.

"Most people assume banks will take care of them and find fraud," he says. "The reality is, and it's a shocking stat, that banks catch about one-third of card fraud every year."

Samid created the BillGuard app, which consolidates debit and credit accounts and helps spot suspicious charges that have been flagged by other members. The app has seen a major spike in downloads since the massive Target data breach earlier this year.

Samid says consumers need to regularly check their accounts, and his company's app makes it easier to do that. He also says when you check your accounts, pay attention to small charges that you don't recognize; those could be a sign of hackers testing to see if your account will authorize charges.

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