IMGCAP(1)]
Visa Inc. and MasterCard Worldwide both tell CardLine they provide financial institutions with the necessary information regarding large data compromises as it becomes available. "In a vast majority of instances, confirming the fact and source of a security breach typically requires a deliberate and painstaking investigation involving coordinated efforts of several parties," MasterCard says in a statement. Both companies say they will not publicly comment or speculate on a breach until it is confirmed by investigations. "Similarly, disclosing the name of the compromised entity would become a very powerful disincentive for the compromised entity to share time-sensitive information with Visa and law enforcement," Joe Majka, head of fraud control and investigations for Visa, writes in an e-mail to CardLine. Protecting cardholders is the most important goal with a data compromise and the "public interest is best served by quickly notifying financial institutions with the information necessary to protect themselves and their cardholders from fraud losses," Majka writes.
