Quantcast

Visa, MasterCard scramble after massive data breach



SAN FRANCISCO—Credit card giants Visa and MasterCard were scrambling on Friday to thwart cyber crooks who looted a massive trove of precious account data, evidently from a payment processor in New York.

Gartner analyst Avivah Litan said that industry sources revealed that numbers from more than 10 million credit card accounts were stolen in the breach, with the entry point being a New York City taxi and parking garage company.

The thieves stockpiled stolen credit card numbers for months before beginning to use them, according to the analyst.

Indications were that the culprits were part of a Central American crime gang, Litan told AFP.

“It sounds like they went into an administrative privilege account at the taxi company and stole electronic data from a central server,” Litan said.

“So, if you’ve paid an NYC cab in the last few months with your credit or debit card, be sure to check your card statements for possible fraud.”

Visa and MasterCard both said they were investigating the breach, which they stressed involved a “third party” and not their internal networks.

“Visa has provided payment card issuers with the affected account numbers so they can take steps to protect consumers through independent fraud monitoring and, if needed, reissuing cards,” the company said in a statement.

Visa and MasterCard are alerting banks and credit unions across the United States to what some in the financial sector are calling a “massive” breach, computer security specialist Brian Krebs said in his Krebson Security blog.

Alerts sent to banks warned that sufficient account details were stolen to make counterfeit credit cards, according to Krebs.

People should alert card issuers to suspicious account activity, according to Visa and MasterCard.

“Law enforcement has been notified of this matter and the incident is currently the subject of an ongoing forensic review by an independent data security organization,” a MasterCard spokesman told AFP.








Recent Stories:

Bodies of 4 babies found in Canada storage locker 8 mins elapsed Only 86 classrooms up since ‘Yolanda’ hit 10 mins elapsed Sen. Binay: Where are the pork papers I requested? 13 mins elapsed US: One American released from North Korea 15 mins elapsed Pistorius sentencing: What it means 21 mins elapsed Wyoming latest US state to legalize gay marriage 25 mins elapsed Abad urges accountants to lobby high court on DAP 30 mins elapsed Terrorism blamed in slaying of Canadian soldier in Quebec 32 mins elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.




  • http://www.facebook.com/people/Kathrine-Mya/100003635639109 Kathrine Mya

    pretty cool stuff mate



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement
Marketplace