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Global Payments security breach, 1.5 million credit cards possibly stolen

Posted 02 April 2012 17:02 CET by etdragon

On Friday of payment processing service Global Payments was hit by a massive security breach. Over the weekend the extent of the damage was determined. All told it seems 1.5 million credit card numbers may have been stolen in the breach.

The U.S. Secret Service performed an investigation over the weekend to determine the extent of the breach on Global Payments. On Sunday night Global Payments reported that 1.5 million credit card numbers may have been stolen. The numbers were confined to North American credit card accounts only.

The investigation currently shows that while the credit card numbers were stolen, other information like cardholder names, addresses, and social security numbers were not taken. The release states, “Based on the forensic analysis to date, network monitoring and additional security measures, the company believes that this incident is contained.”

Global Payments CEO Paul R. commented, “We are making rapid progress toward bringing this issue to a close. Our nearly 4,000 employees around the world are focused on providing exceptional service. We are open for business and continue to process transactions for all of the card brands.”

Notices for Mastercard and Visa customers thought to be at risk have already been sent out by those companies. Visa reacted even more strongly by removing Global Payments as one of their approved service providers. Visa has told Global Payments that they can reapply for validation but they will have to prove their security is up to Visa’s standards.

While it is very good that information like card holder names and social security numbers didn’t get out, credit card companies having to reissue 1.5 million cards isn’t exactly positive either. It’s also possible that the breach is larger than investigators realize. For now, keep an eye on your credit cards and be quick to report fraudulent activity if you see it. Did any of you get a notice that your card may have been compromised? Let us know in the comments.

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