June 18, 2005

Massive credit card detail theft at Mastercard

by brian_turner


Mastercard International has apparently admitted having details on nearly 40 million credit card transactions stolen last night.

First reported by the Associated Press, with more information provided in a later Cnet report, the transacted details were stolen from third-party processor CardSystems Solutions in Tucson, USA.

Although MasterCard are pointing to their anti-fraud methods as a key tool for spotting the theft, it still remains one of the largest data security breaches to date.

The breach mainly affects US customers, and comes at a low in confidence regarding consumer protection measures.

Various card companies are reported now involved in limiting any effect of fraud as a result of the breach, for which the card companies themselves would be held liable for, not the consumer.

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