Massive Data Breach Strikes Visa, MasterCard, Others

Fox Business.com/Reuters ^ | March 30, 2012 | Reuters

[Mad Dawgg]

Four giant card-payment processors and large U.S. banks that issue debit and credit cards were hit by a data-security breach after third-party services provider Global Payments Inc discovered its systems were compromised by unauthorized access.

It was not immediately clear how many cardholders became victims of the breach, which affected MasterCard Inc, Visa Inc, American Express Co and Discover Financial Services, as well as banks and other franchises that issue cards bearing their logos.

U.S. law enforcement authorities including the Secret Service are investigating and MasterCard said it has hired an independent data-security organization to review the incident.

[cynwoody]

Never use your ATM card except at an automatic teller machine for banking business. Just because it has credit card logos on it doesn't mean it should be used as a credit card (or check card, or whatever they call it).

In fact, when they introduced credit card logos, I called the 800 number and complained. Within 24 hours I had a new card without logos, that can't be used as a credit card.

I have an AX card. Why would I need to use my friggin' bank card as a credit card?

[RightOnline]

If you don’t use credit cards.

[Scooter100]

Two years ago I was hit by credit card fraud. I bought some gas at a service station. While paying for my gas, the clerk was obviously fumbling with my card and made several comments about having trouble with his mag-stripe terminal. He then swiped it on his "backup" card reader. I knew what he was up to because I spotted a laptop close to the cash. I alerted MC and the oil company, gave them details about the service station. Sure enough, two days later my account was hit by 11 purchases, at 11 different gas stations for amounts of less than $50 each....morons.

Three weeks later the gas station was closed and I had a new card from MC. Pain in the a$$, but the happy part was that some people evidently got what was coming to them.

By the way, I'm impressed with MC and the oil company. When you are an actual witness to fraud, you are treated to amazing efficiency, your calls travel up the chain instantly and numerous teams call you for details. I was quite impressed.