Friday, March 30, 2012

MasterCard, VISA Warn of Processor Breach — Krebs on Security

This is all kinds of bad... all kinds of ugly and is just the beginning, I'm guessing. I'm sure they've known of the breech for more than a while, before going public.

Not good.

Tip of the iceberg.

MasterCard, VISA Warn of Processor Breach

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.

In separate non-public alerts sent late last week, VISA and MasterCard began warning banks about specific cards that may have been compromised. The card associations stated that the breached credit card processor was compromised between Jan. 21, 2012 and Feb. 25, 2012. The alerts also said that full Track 1 and Track 2 data was taken – meaning that the information could be used to counterfeit new cards.

Neither VISA nor MasterCard have said which U.S.-based processor was the source of the breach. But affected banks are now starting to analyze transaction data on the compromised cards, in hopes of finding a common point of purchase. Sources at two different major financial institutions said the transactions that most of the cards they analyzed seem to have in common are that they were used in parking garages in and around the New York City area.

It’s not clear how many cards were breached in the processor attack, but a sampling from one corner of the industry provides some perspective. On Wednesday, PSCU — a provider of online financial services to credit unions — said it alerted 482 credit unions that appear to have had cards impacted by the breach, and that a total of 56,455 member VISA and MasterCard accounts were compromised. PSCU said fraudulent activity had been detected on a relatively small number of those cards — 876 accounts — and that the activity was geographically dispersed.

If any readers have more information about the source, cause or true size of this breach, please contact me.

Bookmark and Share

Related posts:

  1. Visa Warns of Fraud Attack from Criminal Group
  2. I’ll Take 2 MasterCards and a Visa, Please
  3. Loopholes in Verified by Visa & SecureCode
  4. VISA Blocks ePassporte
  5. Millions of Passwords, Credit Card Numbers at Risk in Breach of Sony Playstation Network

This entry was posted on Friday, March 30th, 2012 at 1:23 am and is filed under A Little Sunshine, Latest Warnings, The Coming Storm. You can follow any comments to this entry through the RSS 2.0 feed. You can skip to the end and leave a comment. Pinging is currently not allowed.

Posted via email from Tony Burkhart

No comments:

Post a Comment