MasterCard, Visa confirm credit card data theft described as 'massive'

[malaise]

http://redtape.msnbc.msn.com/_news/2012/03/30/10940640-mastercard-visa-confirm-credit-card-data-theft-described-as-massive
<snip>
Law enforcement officials are investigating what appears to be a massive theft of U.S. consumers' credit card data, MasterCard and Visa confirmed Friday. The computer security expert who first reported the theft said it might involve as many as 10 million MasterCard and Visa accounts, making it one of the largest known credit card heists.

"MasterCard is currently investigating a potential account data compromise event of a U.S.-based entity and, as a result, we have alerted payment card issuers regarding certain MasterCard accounts that are potentially at risk," that association said in a statement. "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."
The theft was first reported by well-known computer security journalist Brian Krebs on his blog, KrebsonSecurity.com. Krebs said the crime involves compromise of a credit card payment processor — a "middle man" that handles transactions between retailers and banks. The name of that institution is unknown, but processors have long been a target of identity thieves because of the enormous amounts of data they control. In 2008, Princeton, N.J.,-based Heartland Systems was hacked, exposing tens of millions of credit card account numbers to theft.

Krebs reported that hackers had access to the unknown processor's data from Jan. 21 through Feb. 25, and were able to siphon off enough data to easily create counterfeit cards. His sources called the leak "massive."
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Does anyone protect consumers??

[Gold Metal Flake]

1. Funny how this keeps happening.

[leftyohiolib]

2. Does anyone protect consumers?? well bless your heart

remember youre in america. in america consumers are prey for the wolves. USA! USA! USA!

[librechik]

3. They should forgive all our charges from Jan 21 on, then

it's only fair!

What a headache this will be!

[Ilsa]

4. The name of the processor is out:

Global Payment Systems out of Atlanta GA is faulted, last I heard on AP News. The NYSE had to halt trading on their stock.

[malaise]

5. Wow

Thanks

[customerserviceguy]

6. About two months ago

I had to have a Visa card replaced for fraud, and last month, it happened again with an American Express card at about the same time my lady needed a replacement Visa card for unauthorized usage. I wonder if today's story had anything to do with our experiences.

[malaise]

9. Probably

I wonder how massive is massive?

[customerserviceguy]

12. One thing I know for certain

By the time an inside story like this breaks to the media, it's usually been going on for quite some time, unobserved except by those who have been ordered to shut up about it.

[fascisthunter]

7. How Would we Know this wasn't an Inside Job

I sometimes wonder...

[malaise]

8. Good question

We work so hard for our scraps to be robbed everywhere we turn.
I'm so glad we have no credit cards.

[fascisthunter]

10. I got rid of all of mine as well... I just have an ATM checking card

[malaise]

11. We have debit cards

And they do try to rob us at ATMs once they copy our codes