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California to roll out chip-enabled debit cards to deter theft

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California will strengthen the security of the debit cards it uses to issue unemployment insurance and other benefits following a wave of fraud, according to an announcement from the state’s Employment Development Department.

The state agency plans to work with Bank of America to start rolling out chip-enabled debit cards to new claimants, as well as those in need of replacements, beginning on July 25, the department said in its announcement on Thursday.

The news comes about a week after a CNBC investigation highlighted the lack of chips in many government cards, which contributed to stolen unemployment insurance for more than 100,000 recipients during the pandemic. 

“Chip-cards can help…



Source cnbc.com

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