"Massive" Credit Card Breach of Estimated 10 Million Account

[GumbyCT]

"Massive" Credit Card Breach of Estimated 10 Million Accounts: Where Are Those Smart Cards?

Could they be talking about the old style smart cards we no longer use? Where Are Your Smart Cards?

In case you have a credit card. Apparently this is not only from online use. This seems like a BIG Deal.
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Below are excerpts from this link -
http://www.forbes.com/sites/anthonykosn ... art-cards/

According to CNN/Money, “Global Payments (GPN) processed $167.3 billion worth of transactions in its last fiscal year, which ended May 31, 2011. Global Payments specializing in serving small merchants, like mom-and-pop businesses and local retailers.” Global Payments say that it discovered the breach in early March, but, according to Krebs, “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.”
<snip>
Again, according to Krebs, “Global Payments will hold a conference call Monday, April 2, 2012 at 8:00 AM EDT. Callers may access the conference call via the investor relations page of the Company’s Web site atwww.globalpaymentsinc.com by clicking the ‘Webcast’ button; or callers in North America may dial 1-888-895-3550 and callers outside North America may dial 1-706-758-8809. The pass code is ‘GPN.’” The little-known Atlanta-based company will spend the weekend trying to assess the damage, but the real question is can’t more be done to prevent these breaches?


Read the full article here -
http://www.forbes.com/sites/anthonykosn ... art-cards/

[Slinky]

Visa and Mastercard said cardholders wouldn't be held responsible for any bogus charges on the accounts. But nothing was said about risk and liability for other uses of our identities.

[GumbyCT]

But nothing was said about risk and liability for other uses of our identities.

I'm not so sure anyone wants my identity....lol.

This is when you want a poor credit rating

[Slinky]

Ya got that right, Gumby!! Like a 140 maybe? Or -140 even!

[6PtStar]

Not sure credit score is that important as long as they can find someone that will take the fake card ask you to make the payments!!!!!!!!!!!!!!!!!!

Jerry

[GumbyCT]

Not sure credit score is that important as long as they can find someone that will take the fake card ask you to make the payments!!!!!!!!!!!!!!!!!!

Jerry

The Poor credit score part is only pertaining to the ID theft part. IF they get your credit card info credit score won't matter.

Apparently this was a massive breach they are just now releasing info about.

[JohnBFisher]

And unfortunately, not all retailers take the time to check credit cards as they should. Check your credit card account frequently. If you don't recognize the charge, challenge it. It could be an attempt to see if the charge will be noted. If there are unusual (and quite high) charges, challenge them and they will be reversed.

I've had this happen to me twice now. I suspect that my data was compromised in the most recent hack attack, since I suddenly had two unknown charges. I put a fraud alert hold on the account, ordered a new credit card number, and requested the charges be reversed. It should not be a difficult process, though it is very disconcerting to know that sloppy work on the part of the retailer and the data processor can result in fraudulent charges.

So, while a nuisance, for most of us this should not be a problem.

[jmcanzo]

These types of things always make me laugh at the people who are afraid to do their bill paying, banking, purchasing, etc on the Internet. These people think "ooh big scary internet, people will steal my identity, credit, etc." But these are the same people who happily give there card to waitstaff at restaurant, while waitstaff run off somewhere with the card. I always try to tell them your "stuff" is ALREADY on the internet even if you NEVER use anything online.....

[GumbyCT]

It was just on the news that the state of CT contracts with Global Payments to process charge cards used at DMV (Dept. of Motor Vehicles), Uconn, and I think it was "Consumer Protection". That consumer protection part sounds like an oxy esp. in light of this fiasco.

I know I have used a card at DMV several times. Plus now they started doing registrations online. oopps