40M credit cards hacked

Do you have a question? Post it now! No Registration Necessary.  Now with pictures!

NEW YORK (CNN/Money) - A security breach has occurred at a third-party
processor of payment card transactions that affects over 40 million
accounts, Mastercard International said Friday.

Of the cards involved, 13.9 million were MasterCard-branded cards,
which include
Maestro and Cirrus, and 22 million were Visa cards, said
Visa spokeswoman Rhonda

The breach took place at the Tucson office of CardSystems Solutions,
processes transactions on behalf of financial institutions and
CardSystems said in a statement that it identified the
breach on May 22 and
contacted the FBI the next day.

Mastercard learned the final details of the breach this week, according
spokeswoman Jessica Antle. "It looks like a hacker gained access to
database and installed a script that acts like a virus,
searching out certain
types of card transaction data."

"We're working with the FBI. It's a criminal investigation," Visa's
Bentz said,
noting that CardSystems "was out of compliance" with Visa's
security standards
when the breach occurred and that Visa would review
whether it would continue to
work with CardSystems when the case is

CardSystems said it has taken measures since discovery of the breach to
its security procedures.

Mastercard said in a statement that it is giving CardSystems "a limited
of time to demonstrate compliance with Mastercard security

FBI spokesman Rex Tomb couldn't give more details about the case,
saying only
that "we're looking into it. But there's nothing more we
can say at this time.
It's a pending case."

MasterCard said it is giving member financial institutions the specific
account numbers that may have been compromised.

The credit card information exposed in the breach did not include any
Security numbers, birth dates or other highly sensitive personal
Mastercard said.

Consumers receive protection if unauthorized charges are made on their
cards. MasterCard and Visa, for instance, have zero-liability

Bentz said Visa will be monitoring the accounts closely and should know
cardholders if there has been any fraudulent activity. Thus far,
she said, "We
haven't seen anything outside of the norm."

If ever you notice unauthorized charges on your credit card, you should
your card issuer immediately.

The breach reported by Mastercard on Friday is one in a long line of
reported this year by consumer data aggregators like
ChoicePoint, retailers such
as DSW and corporations such as Time
Warner, parent company of CNN/Money.com.

Rather than a rash of illicit activity, experts say, the slew of
reports may
have more to do with companies wishing to protect
themselves in the wake of a
California state law requiring businesses
to notify its customers when their
personal information has been
exposed in a security breach.

Illinois this week became the second state to pass such a law.


suvarna.skhekhar's Profile: http://forums.techarena.in/member.php?userid=3643
View this thread: http://forums.techarena.in/showthread.php?t=230865
Visit -
http://forums.techarena.in/archive/index.php/ | http://www.techarena.in

Site Timeline