Counterfeit credit cards are a significant problem in the U.S. In fact, almost half of the credit card fraud in the world occurs in the U.S.
A post on the Data Protection Report provided background on EMV technology and described the liability-related incentives the card brands are providing to encourage quicker adoption of EMV to increase card security and to reduce counterfeit fraud.
The changes are scheduled to take effect on October 1, 2015. For more information, read the Data Protection Report, The “EMV Liability Shift” Is Coming (What Merchants Need to Know).