Visa, MasterCard Security Breach

seekermeister said:

Anak,

...getting a new card would be a good idea.

I agree. I had intended to do just that, but they wanted to charge me a small fee for the new card, and I'm tight enough that it caused me to hesitate. Since I only have the debit card connected to a small secondary account, that I use for onlline purchasing, the balance is small enough that it wouldn't be a disaster if it got hit, but there is no reason to risk it. Besides, my card expires in July, so I need a new one anyway.

Hi there
this is AMAZING that a Bank charges you for a new card --I'd change Banks at once.

This could be a great SCAM for Banks -- frighten the public with news of a Massive security scare -- then get them all to pay up 2 - 5 Dollars for a new card -- Massive profits !!!.

Having known a bit what happens in some financial sectors -- particularly Commercial (not retail) Banking, global stockmarkets and the usually horrendous "debt collection" industry -- Nothing would faze me any more with some of the antics taking pace in those sectors -- glad I'm basically an old fashioned "Real" Engineer.

I'm sure Banks etc have their vulnerabilities but security on that level must either be Organized Crime from within the Bank itself or from one (or more) of their usually outsourced partners.

Of Course I don't suppose the guys who signed the various contracts for this sort of stuff will get fired.

I agree that going Back to your Local Credit union is the best idea. We even have some of those but the Credit Union idea isn't so well known in a lot of European countries.

Anyway this can't be blamed on Ms etc -- but a lesson to EVERYBODY who does ANY ONLINE TRANSACTION

In general they are safe BUT ALWAYS check your details after every transaction - preferably daily too and change passwoirds etc regularly.

Cheers
jimbo

This little clip might be of interest to some:

Hulu - NBC TODAY Show: Millions of Credit Accounts Compromised

It probably isn't possible, but it would be nice if they released an alphabetical list of card numbers that are effected.

EDIT: Divided by states to keep the lists shorter.

Here is the deal folks. I work for an ISO for Global Payments.

If you charged your card with any of the various merchants that have Global Payments as the processor, you should be canceling your card NOW.

Here is the hard part. How many times do you use your debit/credit card with several different merchants? I doubt the fact that most of the merchants have any idea who actually processes the cards because a good 60% of Global's business is done by a secondary Independent Sales Organization, and they bill out the fees and not many associates with a company have any idea who they are banking with.

There are 4 "Heavy Hitters" in the USA.
Global Payments
First Data
Menaris
NOVA/Elavon


Most of the major banks even route the transactions to them.

So, at the slightest error in your statements or suspected error, get a new card. Pay for it if you have to.

abuttino said:

Here is the deal folks. I work for an ISO for Global Payments.

If you charged your card with any of the various merchants that have Global Payments as the processor, you should be canceling your card NOW.

Here is the hard part. How many times do you use your debit/credit card with several different merchants? I doubt the fact that most of the merchants have any idea who actually processes the cards because a good 60% of Global's business is done by a secondary Independent Sales Organization, and they bill out the fees and not many associates with a company have any idea who they are banking with.

There are 4 "Heavy Hitters" in the USA.
Global Payments
First Data
Menaris
NOVA/Elavon


Most of the major banks even route the transactions to them.

So, at the slightest error in your statements or suspected error, get a new card. Pay for it if you have to.

Hi there
You missed a large INTERNATIONAL global player in this too : EUROCLEAR - not a retail bank - but purely a Money Transfer service used by Banks etc for moving money around the globe.

This is a HUGE player in this stuff - but it's not a Bank in the normal sense of the word - but I'll bet that if you've done any online transactions somewhere some of your money will have passed through this organisation.

( I often go out Drinking in Brussels after work with some I.T contractors who work for this organisation so I know a little about it -- I'm not in Finance at all but the pub we use is a great place where we can see English "footie" etc).

Cheers
jimbo

Hey,

most of the online stores have safe and secure payment options.

How can we differentiate the fake websites??