Visa, MasterCard Security Breach

[Anak]

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.

Source: https://krebsonsecurity.com/2012/03/mastercard-visa-warn-of-processor-breach/#more-14393

Looks like I'll be calling the Credit Union tomorrow.

 

[seekermeister]

I don't have a credit card, but I do have a Visa debit card issued by my bank, so I imagine that it is also vulnerable. I'll be calling my bank in the morning.

 

[seekermeister]

I just got off the phone with my banks express service, and she said they had not been notified about any problem with this. That seems very strange, since the processor breach occurred early this month. I checked my balances, and they are correct at the moment, but I'm trying to decide whether to have a new debit card issued or not.

 

[Anak]

I tried calling earlier, we have something similiar to your Express Service called
Tele-Branch, but they were closed to humans, and won't re-open till 8:30am.
It is still a half-hour sooner then when the main offices open, and I'll call then.

One needs to check back farther than earlier this month:

The card associations stated that the breached credit card processor was compromised between Jan. 21, 2012 and Feb. 25, 2012.

Source: https://krebsonsecurity.com/2012/03/mastercard-visa-warn-of-processor-breach/#more-14393

Our accounts look okay, and getting a new card would be a good idea.

 

[Lebon14]

This seem to be a US only problem...

Just in case, I'll be checking my VISA transactions just in case...

 

[Anak]

This seem to be a US only problem...

Just in case, I'll be checking my VISA transactions just in case...

To be sure, you should call your financial institution to see if they are associated with Global Payments Inc.

 

[seekermeister]

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.

 

[Anak]

Are you charged for a new card when you re-up in July?

You should look into Credit Unions, a well established one. The membership regulations are not as strict like they were years ago, and they offer more free services than Banks.

Does your Bank offer zero-liability?

TTCU reminds that credit and debit cards are protected by zero-liability insurance, so even if your account is the victim of fraud you're going to get your money back.

Source: Tulsa Experts Give Advice After MasterCard, Visa Security Breach - News9.com - Oklahoma City, OK

We have this, at no charge.

 

[LittleJay]

Thanks for the heads up Anak! I haven't heard boo about this from my bank and my card balance is what it should be, but I will be monitoring things closely.

 

[Anak]

Your welcome LittleJay!

I just got off the phone with our Credit Union(CU) Rep, and he tells me that they are fully aware of the situation. Because of privacy concerns he could not elaborate. But,

They have received the information as to what CU's, and any members are involved.
It will still take two weeks to cross reference the information, and if we were on the list we, my DW, and I would be notified from the CU that our cards would be canceled, and re-issued with new numbers.

Factors in our favor:

• The Zero-Liability coverage.
• We haven't used our card(s) in any transactions with the Financial Institutions or Businesses located in the area where the breach occurred. The linked article states, "in and around New York City".
• Even though there were two tracks of data taken they weren't able to obtain the track that contains the three digit security set found on the back of the cards, so if your merchant doesn't ask for it, ask them, why not?

It is still going to take a fortnight to get out of the woods, but I feel somewhat relieved.

 

[jimbo45]

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

 

[Anak]

Update:

Global Payments, the credit and debit card processor that disclosed a breach of its systems late Friday, said in a statement Sunday that the incident involved at least 1.5 million accounts. The news comes hours ahead of a planned conference call with investors, and after Visa said it had pulled its seal of approval for the company.

Source: https://krebsonsecurity.com/2012/04/global-payments-1-5mm-cards-exported/#more-14437

GPI's stock plummets 9.73% on Friday, now trying to recover:
GPN Global Payments, Inc. stock quote price shares XNYS

 

[seekermeister]

This little clip might be of interest to some:

Hulu - NBC TODAY Show: Millions of Credit Accounts Compromised

 

[Lebon14]

I just called my VISA card provider and they said that they indeed received such info but very little info at a time.
It might not touch Canada that much after all. But at least they are aware that such breach has been made.

I'll be checking my transactions, I guess.

 

[Anak]

Update:

Reporter credited with breaking story, snubbed:

GPN said it would allow an hour for the call and for questions, but it told callers at the beginning of the conference that it would be using a portion of the call time to talk about its 4th quarter earnings. Although I sat in on the GPN call this morning for the entire hour and waited in the queue to ask questions, I was not afforded the opportunity. Nor did I hear questions allowed from reporters at mainstream news media outlets cited in this story. The company has not yet responded to my questions, which I submitted in a phone call after the news conference.

Source: https://krebsonsecurity.com/2012/04/global-payments-rumor-and-innuendo/#more-14471

I just called my VISA card provider and they said that they indeed received such info but very little info at a time.
It might not touch Canada that much after all. But at least they are aware that such breach has been made.

I'll be checking my transactions, I guess.

It is a good habit to get into for your continued financial health.

 

[seekermeister]

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.

 

[abuttino]

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.

 

[jimbo45]

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

 

[Solarstarshines]

I did a Bank deposite a few days back everything seems in order i also have my Balance anything funny goes down i will show them the date and time and what they have on record so i can simpley make them pay me back

Thank you all for the notification I havn't used my card though just been use-ing cash

 

[omiey]

Online payment

Hey,

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

How can we differentiate the fake websites??