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Visa is investigating a possible compromise of security at a European payment processer that may have compromised more that 10,000 cards in Eastern Europe. The affected payment processor is serving an undisclosed merchant chain that does business in several European markets. A number of banks have been alerted of the fraud and precautionary measures have also been taken. The Romanian state-owned bank has reissued 17,000 payment cards following the receipt of the report which outlined the information related to a number of payment cards issued by the Romanian and foreign financial institutions which have been compromised. The credit card issuer Visa has stated that it has already informed Visa Europe of the major data security breach and an investigation is under process. In addition, the company is working closely with its bank members to ensure that cardholders are protected.
Read More:
http://www.theregister.co.uk/2011/12/15/credit_card_processor_security_probed/ Source:
The Register
http://www.theregister.co.uk/2011/12/15/credit_card_processor
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