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Lost Credit Data Improperly Kept, Company Admits

Posted by timothy on from the just-researching-your-privacy-loss-tolerance dept.

Zak3056 writes "Last week, Mastercard announced that up to 40,000,000 credit card numbers may have been compromised by one of their processing companies. Today, the New York Times (registration, along with first born child, required) is reporting that the company in question, CardSystems Solutions, should not have been retaining that data to begin with. John M. Perry, CEO of the processor in question, claims the data was merely being kept for 'research purposes.' The number of compromised Master Card accounts has been revised downward to about 68,000, with another 132,000 possibly compromised accounts belonging to Visa, American Express, and other companies."

8 of 272 comments (clear)

  1. in that case... by Anonymous Coward · · Score: 2, Funny

    the data was merely being kept for "research purposes."

    well, that makes it ok then. NOT!

  2. this is not an error by nilbog · · Score: 5, Funny

    This isn't an error at all, it's actually a *feature* of your credit card agreement. Gets your card number out there so you don't have to bother giving it to retailers - they already have it!

    --
    or else!
  3. Re:Full text of the article by w98 · · Score: 5, Funny
    As for the sensitive data, he added, "We no longer store it on files."
    Now they store it on tape so UPS can lose it instead.


    --
    my geeklog
  4. Newly revised figures... by yotto · · Score: 3, Funny

    I just heard that they revised the numbers again. Now it appears that the lost data is actually just 4 credit cards. And they're all Fashion Bug cards so it would be really easy to spot them if they were used illegally.

    --
    Pulp Audio Weekly - Geek News and Reviews
  5. It's like the commercials by jim_v2000 · · Score: 5, Funny

    Internet connection - $30
    Homemade Computer - $700
    2 Liters of Mountain Dew - $2

    Stealing 40 Million people's credit card information with your 1337 h@x0r s|i77z - Priceless.

    There's somethings that money can't buy, but for everything else, there's MasterCard.

    --
    Don't take life so seriously. No one makes it out alive.
  6. Re:Lawsuit by griffjon · · Score: 4, Funny

    I'd place money...

    Hey, for betting; do you take credit cards?

    --
    Returned Peace Corps IT Volunteer
  7. For Science! by EvilMagnus · · Score: 3, Funny

    John M. Perry, CEO of the processor in question, claims the data was merely being kept for "research purposes."

    Well, that makes it all OK, then, doesn't it? So long as it was for Science.

    --
    -EvilMagnus
  8. Re:Why are they still in business? by jimicus · · Score: 4, Funny

    Why is CardSystems Solutions still a processor for Visa and MasterCard?

    Because the CEO's PA gives good head to visitors.