There is a major security flaw in EMV chips on debit and credit cards. This as shown at the Black Hat conference on August 3.

These chips are supposed to make it impossible to counterfeit credit and debit cards, which is why the US made a switch to chip-based cards in October 2015. There is, however, a major security flaw, which is the fact the credit and debit cards still have magnetic strips. These magnetic strips are supposed to tell the machine to use the chip instead. Hackers are able to rewrite code to make it function like a chip-less card. Another flaw is that the individual transactions are not encrypted. The advice is to use protected payment apps such as PayPal for better encryption.