If fraud occurs when a magnetic stripe card is swiped at a chip-enabled terminal, the bank is still responsible for the fraud. American Express will transfer liability to business owners on Oct. 16.

You know those new chip credit or debit cards you’re using because they’re supposed to be “safer than the old ones? There’s a new warning for you about a potential flaw with them.

Bottom line, never give that chip to anyone. If you’re throwing out your credit or debit card, make sure you’re cutting up the chip too.

There are 408 million credit cards, embedded with the chip, in circulation. That means about 80 percent of Americans have the new chip card in their wallets.