funsec mailing list archives
CardSystems Solutions Settles FTC Charges
From: "Fergie" <fergdawg () netzero net>
Date: Thu, 23 Feb 2006 20:33:45 GMT
Via The FTC. [snip] In the largest known compromise of financial data to date, CardSystems Solutions, Inc. and its successor, Solidus Networks, Inc., doing business as Pay By Touch Solutions, have agreed to settle Federal Trade Commission charges that CardSystems' failure to take appropriate security measures to protect the sensitive information of tens of millions of consumers was an unfair practice that violated federal law. According to the FTC, the security breach resulted in millions of dollars in fraudulent purchases. The settlement will require CardSystems and Pay By Touch to implement a comprehensive information security program and obtain audits by an independent third-party security professional every other year for 20 years. This is the ninth FTC case targeting companies whose security practices compromised consumers' confidential financial information, and the first the Commission has brought against a credit card processor. [snip] More: http://ftc.gov/opa/2006/02/cardsystems_r.htm - ferg -- "Fergie", a.k.a. Paul Ferguson Engineering Architecture for the Internet fergdawg () netzero net or fergdawg () sbcglobal net ferg's tech blog: http://fergdawg.blogspot.com/ _______________________________________________ Fun and Misc security discussion for OT posts. https://linuxbox.org/cgi-bin/mailman/listinfo/funsec Note: funsec is a public and open mailing list.
Current thread:
- CardSystems Solutions Settles FTC Charges Fergie (Feb 23)
- Re: CardSystems Solutions Settles FTC Charges Dude VanWinkle (Feb 23)