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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."

2 of 272 comments (clear)

  1. Re:Slight difference? by Tuxedo+Jack · · Score: 5, Insightful

    Even so, the issue is that it was still improperly retained - and that corporate America isn't giving a damn about security for the average joe's accounts and such.

    --

    Striking fear in the authors of godawful fanfiction, I am here, appearing in darkness, Tuxedo Jack!
  2. Why are they still in business? by stinerman · · Score: 5, Insightful

    From TFA:

    Jessica Antle, a MasterCard spokeswoman, said that CardSystems had never demonstrated compliance with MasterCard's standards. "They were in violation of our rules," she said.

    Asked about compliance with Visa's standards, a Visa spokeswoman, Rosetta Jones, said, "This particular processor was not following Visa's security requirements when we found out there was a potential data compromise."

    Question:

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