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MASTERCARD says 40 million cards potentially exposed to fraud...

Security Breach at CardSystems Solutions

   
10:13 pm on Jun 17, 2005 (gmt 0)

10+ Year Member



MasterCard International reported today that it is notifying its member financial institutions of a breach of payment card data, which potentially exposed more than 40 million cards of all brands to fraud, of which approximately 13.9 million are MasterCard-branded cards.

MasterCard International's team of security experts identified that the breach occurred at Tucson-based CardSystems Solutions, Inc., a third-party processor of payment card data.

Press Release Here [biz.yahoo.com]

10:21 pm on Jun 17, 2005 (gmt 0)

10+ Year Member



I seem to hear about *%#$ like this happening every week now. But 40M is probably a new record.
8:45 am on Jun 18, 2005 (gmt 0)

WebmasterWorld Senior Member essex_boy is a WebmasterWorld Top Contributor of All Time 10+ Year Member



If you charged $9.95 to each one I wonder how many would notice!
12:09 pm on Jun 18, 2005 (gmt 0)

WebmasterWorld Senior Member lorax is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



Is it me or is this happening a lot more lately? I think this is the 3rd time this has happened to a significantly large organization within a year. The last one I can remember was when Amazon got hacked - a few years ago?
6:29 pm on Jun 18, 2005 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



It is now required by law (in the US anyway) for a company to report loss of this kind of data due to hacking, etc., so we are just hearing about it more than before.

This time, at least, no SSNs, names, addresses were stolen, just the card number, so less identiy theft will result.

7:03 pm on Jun 18, 2005 (gmt 0)

WebmasterWorld Senior Member macguru is a WebmasterWorld Top Contributor of All Time 10+ Year Member



Where are my scissors [static.zoovy.com]?
4:40 am on Jun 20, 2005 (gmt 0)

10+ Year Member



The hard thing about it is that customers might be more afraid on giving out their credit card info online. Read a local newspaper article in which a person said that he will never shop online again after his credit card no was stolen.
12:16 pm on Jun 20, 2005 (gmt 0)

10+ Year Member



"no SSNs, names, addresses were stolen, just the card number, so less identiy theft"

No way. Names, cardnumbers and expiration dates have been stolen. Perfect for online fraud orders.

A big hand to the credit card organizations! Making up thousands of annoying rules to be 'in compliance' for online merchants and now they are able to say to their customers: Oh, it has been stolen? You can do a chargeback if you want.

*SIGH*

12:45 pm on Jun 20, 2005 (gmt 0)

10+ Year Member



They also announced that if anyone has any unauthorized charges they will be taken care of. Here comes the friendly fraud....hold on to your seat.
12:42 pm on Jun 21, 2005 (gmt 0)

10+ Year Member



They also announced that if anyone has any unauthorized charges they will be taken care of. Here comes the friendly fraud....hold on to your seat.

Yeah, and for each chargeback some merchant out there will be paying a chargeback fee.

2:10 pm on Jul 20, 2005 (gmt 0)

10+ Year Member



Visa and Amex are terminating their relationship with Cardsystems Solutions:
[forbes.com...]
2:23 pm on Jul 20, 2005 (gmt 0)

10+ Year Member



There aren't enough knives or backs to stick them in within the merchant services industry.
This stuff happens every day and Visa, MasterCard, Large and small processors/providers alike turn the other cheek until the thickness of their wallets are jeopardized……. Then all of a sudden they are “cutting ties”.
 

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