New Data Breach Sends CUsScurrying

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TUCSON, Ariz. - (06/20/05) -- Credit union managers were workingthrough the weekend to determine how their institutions may havebeen impacted by a security breach at processor CardSystemsSolutions that may have compromised up to 40 million card accountsat MasterCard, Visa, American Express, Discover, and several othercard brands in one of the biggest data heists ever. The breachcompromised account holder names, account numbers and thousands ofcredit union and bank accounts. The situation was first revealed byMasterCard in an alert sent to all of its issuers Friday.MasterCard said about 13.9 million of the card accounts breachedwere of its brand and about 68,000 of its card holders are "at thehigher level of risk." MasterCard traced the breach to CardSystemsbased on an unusual pattern of fraudulent transactions, but theextent of the fraud and losses has yet to be determined, thecompany said. MasterCard said the security breach involves acomputer virus that captured customer data for the purpose of fraudand may have affected holders of all brands of creditcards.

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