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Author Topic: MasterCard, VISA Warn of Processor Breach  (Read 1403 times)
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MuffyBee
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« on: April 02, 2012, 08:24:30 PM »

http://krebsonsecurity.com/2012/03/mastercard-visa-warn-of-processor-breach/comment-page-2/
MasterCard, VISA Warn of Processor Breach
April 2, 2012

VISA and MasterCard are alerting banks across the country about a recent major breach at a U.S.-based credit card processor. Sources in the financial sector are calling the breach “massive,” and say it may involve more than 10 million compromised card numbers.

Update, 4:32 p.m. ET: Atlanta-based processor Global Payments just confirmed that they discovered a breach in early March 2012. See their full statement and several other updates at the end of this story.
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MuffyBee
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« Reply #1 on: April 02, 2012, 08:26:51 PM »

http://www.marketwatch.com/story/global-payments-still-tallying-data-breach-costs-2012-04-02
Global Payments still tallying data breach costs
April 2, 2012

--Company says total cost of breach unknown

--Company working to get in compliance with Visa requirement

--Analyst: Costs should be manageable

(Updated with analyst comments in paragraphs nine and 10, details about past breaches in paragraphs 16-17 and consultant comments in paragraphs 18-19.)

NEW YORK (MarketWatch) -- Global Payments Inc. GPN -3.71%  , one of the largest processors of Visa Inc. V +0.83%  and MasterCard Inc. MA +2.74%  card transactions, is working around the clock to stem fallout from a data breach that exposed as many as 1.5 million cardholder accounts, executives said Monday.

The Atlanta-based company believes it has entirely contained an intrusion of its processing system it discovered in early March, which it disclosed late Friday after trading of its stock was halted following a Wall Street Journal report naming it as the source of a breach.

Since the incident came to light, Visa removed Global Payments from a list of approved service providers it maintains, though the company remains able to continue processing Visa card payments, Global Payments Chairman and Chief Executive Paul Garcia said.

"We are working around the clock literally ... with all the card associations to get" back in compliance, Garcia said during a conference call with analysts.
 ::snipping2::
The company has set up a website for consumers seeking information about the breach at www.2012infosecurityupdate.com.

Global Payments has not quantified the total cost associated with the breach, though it expects to record a charge once it has determine all steps it will need to take to rectify the situation, executives said.

Greg Smith, an analyst with Sterne Agee, said he expects expenses stemming from the breach to be in the "tens-of-millions of dollars."
 ::snipping2::
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MuffyBee
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« Reply #2 on: April 02, 2012, 08:28:14 PM »

http://money.msn.com/top-stocks/post.aspx?post=a4ffc652-c83e-4d56-ab17-834474023467
Visa and MasterCard: Are you at risk?
Hackers attack a pipeline that services credit card transactions, exposing more than one million customers to fraud

April 2, 2012

Global Payments (GPN -3.71%), a little-known third-party processor of credit-card transactions, has admitted that its security defenses were breached by hackers, leaving more than 1 million customers of Visa (V +0.83%), MasterCard (MA +2.74%), and other companies vulnerable to fraud.

Visa and MasterCard were quick to reassure customers that they would be covered for any losses from theft, but the attack nevertheless is raising concerns about the security of the credit-card payment system. The incident is also casting a spotlight on Global Payments and other companies that help execute credit-card transactions, and that could be less secure than bigger companies like Visa.

Here, a guide to this major data breach.
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« Reply #3 on: April 15, 2012, 08:06:30 AM »

A strange debit for $2.62 from France showed up in the bank account of one of my sons.  It was a pre-authorization and the card wasn't present when the debit was made according to his bank when they called. The bank "hot carded" his debit card, meaning full stop was put on it, no charges could made from then on.    It would seem his debit card info was part of the Global Payment hack.  The bank caught it even before we saw it.  They called to see if my son had been in France lately.  The bank told me they have people working just to watch for that very thing.  Anything international, anything that might be an unusual pattern.  The person working fraud at the bank told me normally small debit's are made to an account which can go unnoticed by the account holder, and it's to test if the debit card numbers are good and etc.  Once the test debit goes through, then the bad guys start debiting more charges.  This charge didn't get past pre-authorization, the card got a hold put on it, and before the night was through, the debit amount of $2.62 was removed from the account.  Fortunately, it was only the debit card that was compromised, and not the account itself, according to the anti-fraud people.  He can get a new debit card.  Everyone, please keep your eyes peeled and check your accounts closely. 
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  " Everyone is entitled to his own opinion, but not his own facts."  - Daniel Moynihan
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