Visa, MC: 5 million accounts hacked
19 February 2003, 12:53 PM
#1
take from:
http://msnbc.com/news/874126.asp?cp1=1
Visa, MC: 5 million accounts hacked
Third-party processor leaked data, credit card firms say
Feb. 18 — More than five million Visa and MasterCard accounts throughout the nation were accessed after the computer system at a third party processor was hacked into, according to representatives for the card associations. Early indications were that none of the information, which would include credit card numbers, was used in a fraudulent way, according to the representatives. [/b]
THE ASSOCIATIONS said they could not provide a timeline of when the breach took place or details on how it was accomplished because it involved a third party processor used by merchants and not Visa or MasterCard systems. The associations said they could not disclose the name of that processor.
Visa and MasterCard are associations made up of financial institutions who issue the cards.
MasterCard said it began to notify its members the week of Feb. 3 that more than 2 million MasterCard accounts had been broken into after the processor told it about the problem, MasterCard spokeswoman Sharon Gamsin told Reuters.
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About 3.4 million Visa accounts also have been accessed in the incident, according to spokesman John Abrams.
“Visa’s fraud team immediately notified all affected card issuing financial institutions and is working with the third-party payment card processor to protect against the threat of a future intrusion,” the association said in a statement.
Neither Visa nor MasterCard would disclose which institutions were involved.
“This is not something regional, it was throughout the nation and could be any bank,” Abrams said.
Both associations said no customer would be liable for any charges incurred as a result of fraud. They said the processor was working with law enforcement officials on the matter.
© 2003 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.
http://msnbc.com/news/874126.asp?cp1=1
Visa, MC: 5 million accounts hacked
Third-party processor leaked data, credit card firms say
Feb. 18 — More than five million Visa and MasterCard accounts throughout the nation were accessed after the computer system at a third party processor was hacked into, according to representatives for the card associations. Early indications were that none of the information, which would include credit card numbers, was used in a fraudulent way, according to the representatives. [/b]
THE ASSOCIATIONS said they could not provide a timeline of when the breach took place or details on how it was accomplished because it involved a third party processor used by merchants and not Visa or MasterCard systems. The associations said they could not disclose the name of that processor.
Visa and MasterCard are associations made up of financial institutions who issue the cards.
MasterCard said it began to notify its members the week of Feb. 3 that more than 2 million MasterCard accounts had been broken into after the processor told it about the problem, MasterCard spokeswoman Sharon Gamsin told Reuters.
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About 3.4 million Visa accounts also have been accessed in the incident, according to spokesman John Abrams.
“Visa’s fraud team immediately notified all affected card issuing financial institutions and is working with the third-party payment card processor to protect against the threat of a future intrusion,” the association said in a statement.
Neither Visa nor MasterCard would disclose which institutions were involved.
“This is not something regional, it was throughout the nation and could be any bank,” Abrams said.
Both associations said no customer would be liable for any charges incurred as a result of fraud. They said the processor was working with law enforcement officials on the matter.
© 2003 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.
19 February 2003, 02:24 PM
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From ITWEB
Compromised credit cards rise to 8m
BY STAFF WRITER, ITWEB
[Johannesburg, 19 February 2003] - The credit card industry has been rocked further with the news that the number of accounts that have been compromised by a hacker has grown to about eight million.
CNN reports that Discover Financial Services and American Express yesterday joined the list of credit card companies saying a hacker breached a security system of a company that processes transactions on behalf of merchants.
Discover and American Express would not disclose how many accounts were involved. In a statement, MasterCard put the overall security breach at about eight million accounts, including 2.2 million of its own cards. Visa said 3.4 million of its cards were affected.
All four credit card companies declined to name the company whose security was hacked.
None of the original set of compromised Visa cards had been used fraudulently, Visa spokesperson John Abrams said on Monday. A MasterCard spokesperson could not say whether any of its cards had been used fraudulently. American Express said there has been no fraud.
CNN says the affected accounts make up almost 1% of the 574 million Visa and MasterCard accounts in the US.
Consumer advocates recommend that people be vigilant in checking credit card statements for any charges they did not make.
The FBI is aiding in the investigation.
Compromised credit cards rise to 8m
BY STAFF WRITER, ITWEB
[Johannesburg, 19 February 2003] - The credit card industry has been rocked further with the news that the number of accounts that have been compromised by a hacker has grown to about eight million.
CNN reports that Discover Financial Services and American Express yesterday joined the list of credit card companies saying a hacker breached a security system of a company that processes transactions on behalf of merchants.
Discover and American Express would not disclose how many accounts were involved. In a statement, MasterCard put the overall security breach at about eight million accounts, including 2.2 million of its own cards. Visa said 3.4 million of its cards were affected.
All four credit card companies declined to name the company whose security was hacked.
None of the original set of compromised Visa cards had been used fraudulently, Visa spokesperson John Abrams said on Monday. A MasterCard spokesperson could not say whether any of its cards had been used fraudulently. American Express said there has been no fraud.
CNN says the affected accounts make up almost 1% of the 574 million Visa and MasterCard accounts in the US.
Consumer advocates recommend that people be vigilant in checking credit card statements for any charges they did not make.
The FBI is aiding in the investigation.
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