A recent security breach within Global Payments is getting bad, with up to 1.5 million VISA and Mastercard accounts being compromised. While credit card numbers may have been compromised, no customer names, addresses or Social Security numbers were accessed, according to a statement from Global Payments. The company believes the breach was isolated to just North America.
At the moment, the company doesn't know whether there have been any fraudulent charges made on the stolen card details. The company process payments from credit, debit, and gift cards between merchants and banks. Global Payments believe that the incident may have been contained, but are still working with third parties to investigate the incident, and to hopefully minimize the impact to customers.
CEO Paul Garcia said:
We are making rapid progress toward bringing this issue to a close.
Both VISA and Mastercard have sent out notices to their affected customers, and as a result of the breach, VISA removed Global Payments from their list of approved service providers.
Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.