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Visa and Mastercard Major Security Breach

By April 3, 2012 Euby, Web No Comments

Visa and Mastercard are investigating a large data security breach at one of the main companies that processes transactions for them.  Global Payments, an Atlanta based company improperly exposed private customer information on an estimated 1 to 3 MILLION clients.  This does not mean that those cards WILL be used fraudulently, but they COULD be.  Unfortunately Global Payments has not responded very rapidly to the inquires and investigations by Visa and Mastercard so the banks affected have not been given the information to notify the clients and replace the cards as yet.  As a result everyone with a Visa or Mastercard should watch their accounts a little more closely and frequently over the next few weeks until this mess is cleaned up.  The breach occurred from late January to early February and included Track 1 and 2 data…..that includes Names, Card Numbers, Validation codes and in some cases card users address.   This is the second breach at Global in the last 12 months…and their stock is taking a beating as a result.  Hopefully this will not affect you …but be cautious.    Euby

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