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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)

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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 June 17, 2005 (gmt 0)

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

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

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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 June 18, 2005 (gmt 0)

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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 June 18, 2005 (gmt 0)

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

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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 June 20, 2005 (gmt 0)

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"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 June 20, 2005 (gmt 0)

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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 June 21, 2005 (gmt 0)

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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 July 20, 2005 (gmt 0)

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

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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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