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| 40 million credit cards hacked |
| Tuesday, June 21, 2005 at 15:15 by Kathleen Hill |
Last Friday, credit card giant Mastercard alerted customers that its payment-processing centre in Atlanta, CardSystems Solutions, became the largest target of a successful hacking attack.
The company, which authenticates credit card transactions for several major credit card companies, discovered that information was stolen, allowing unauthorised third-parties to fraudulently use the cards.
Mastercard International have claimed that more than 40 million credit card numbers could have been stolen while Visa has estimated that 18 million of its customers may have been affected. According to CardSystems Solutions, hackers gained access using malicious software to steal the numbers.
Customers are reportedly not at risk of identity theft since information kept on credit cards is limited; the hackers allegedly did not access PIN numbers. Additionally, individual customers will not be responsible for any fraudulent transactions.
Bill Reeves, Senior Vice President of CardSystems Solutions, Inc., issued the following statement,
"CardSystems Solutions identified a potential security incident on Sunday, May 22nd. On Monday, May 23rd, CardSystems contacted the Federal Bureau of Investigation. Subsequently, the VISA and MasterCard Card Associations were notified to alert them of a possible security incident. CardSystems immediately began a remediation process to ensure all systems were secure. Additionally, CardSystems immediately engaged an independent 3rd party to validate systems security.
Since that time, concurrent to the investigation proceedings, CardSystems is completing the installation of enhanced/additional security procedures recommended by the security assessor involved in the investigation.
We understand and fully appreciate the seriousness of the situation. Our customers and their customers are our lifeblood. We are sparing no effort to get to the bottom of this matter. Our goal is to cooperate fully with the FBI to complete the investigation and ensure that we do nothing that might compromise the investigation."
Carole Theriault at Sophos commented,
"We are seeing a worrying increase in the amount of crime being committed on computers by hackers and malicious software. Computers are very powerful tools that hold vast amounts of personal and confidential information. In some instances, stolen information can be very valuable. Not only is it important to practice safe computing, it is also wise to check that the companies that hold your confidential data are taking your security needs seriously."
Concerned credit card users should contact their credit card issuers for further information.
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| Thats alot of cards, and how often do you need a pin to make transactions? Not a good sign of things to come. |
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| Very mature comment no 2. How would you feel if it was your card details that were stolen? |
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| I agree with comment # 3.
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| this doesnt shock me since almost a year ago wells fargo had computers actually stolen from their center. lucky for me they gave credit protection - which is really a bullSH** service that only tells you when alterations are made to your credit report.
Something is very wrong in the computer world - too much hacking, too much " interception" -- seens like the only real encryption is chatting n person with someone,
for MAstercard and Visa to be such huge giants in the information age - they should be better prepared. Makes me want to chop all the credit cards and pay cash |
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| thanks for the interesting news |
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| i agree with comment #2. there's a billion dollar company security in action... |
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| Heard of the ShadowCrew ?
Heard of Anti-virus software ?
What do they have in common ?
They're both out to get your money. |
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