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Up To 1.5 Million Visa, MasterCard Credit Card Numbers Stolen
An anonymous reader writes "Global Payments, the U.S.-based credit card processor company that experienced a security breach affecting Visa and MasterCard, confirmed that the breached portion of its processing system was confined to North America. The company also finally revealed how many credit card numbers were stolen: around 1,500,000."
That government guy from the cyberwar scare story last week had it right... We need a new security model. Just assume that your credit card numbers, your social security number, etc., are already compromised. Those things were never designed to be secure, and companies that we trust with this data simply can't keep them safe. We just have to accept that the bad guys are all up in our business and adjust our practices accordingly. We could do it.
"Here Lies Philip J. Fry, named for his uncle, to carry on his spirit"
Actually, that's not true at all. If you fail to report fraudulent transactions within 60 days of statement mailing, the bank and/or credit card company is not responsible for any investigation or repayment under the Fair Credit Billing Act.
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm