Tuesday, April 3, 2012

"Massive" CC breach and How They Hack You

You may start getting questions about a very recent
"massive" CC security breach. Unfortunately, there are
currently little specifics as to who all will or has been
affected by this situation. We are and have been keeping
our finger on the pulse as the information comes in.

We have put together a short gathering of information
related to this that should shed some light on what
happened, what is being done about it and who has mostly
been affected.

Stay tuned for upcoming specifics and hopefully a list of
which processors have been affected. Please feel free to
reach out to your own processor as you see fit.

We will be sure to back any statement with factual data
and sources to avoid any continued or unncessary worry
or fear.
How to Tell if You Have Been Caught in the Fraud:
The part of the process that was breached was the step
between the merchant and the processor; the former
being a New York City taxi and parking garage company,
Payments apparently first identified the potential breach in
early March, and the problem had been undetected for
several months before that.
Therefore, the pool of victims is likely to be those who
used their debit or credit cards for transportation in the
New York metropolitan area earlier this year.
"Massive" credit card card breach:
How Big is the Theft?
"Most payment-card thefts, the Verizon study found, are
from small businesses, with only about 5 percent last year
from large organizations. More than three-quarters of the
breaches involved losses of fewer than 10,000 records. Just
seven breaches involved more than 1 million records each.”
Related article on "How They Hack You":
As retailers you should absolutely ensure your own end
is fully covered and secure.
In addition, stay in the know regarding imminent dangers
to yourselves and your clients.