p2pnet - rss feed: CardSystems plugs security hole
p2pnet.net News:- Atlanta-based CardSystems Solutions, which was recently hacked, opening 40 million accounts accounts belonging to it and other companies to possible exploitation, now has new security software.
The CardSystems penetration was latest in a long list of serious security breaches in financial transaction companies.
Marc Maiffret, co-founder of eEye Digital Security, said his firm had installed new security systems and, “CardSystems may have initiated other measures as well in response to the breach,” according to the Associated Press, which adds:
"CardSystems Solutions is among a large number of companies processing financial transactions for credit card issuers that largely use custom-made software applications not initially designed with security components as their foremost need, Maiffret said.
“In addition, such third-party companies frequently must contend with budget constraints causing them to be stingy on computer security, Maiffret said. Those settings make for favorable conditions for a skilled hacker to manipulate his way through a computer program seeking vulnerabilities, he added.”
John M. Perry, CardSystems ceo, recently admitted his company shouldn’t have held on to the records in the first place.
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See:-
Associated Press - Security fix installed after breach, June 24, 2005
recently admitted - Massive MasterCard hack, p2pnet, June 23, 2005
June 24th, 2005 at 2:30 pm
Rather than plugging holes, doing security audits, and fluttering uselessly about user data being stolen, why not quit storing people’s data without their permission? Or better yet, let’s all post and share via p2p personal data on the CEO’s, stockholders, board members, and upper management of these companies and all the polititions that these companies purchased. Let them be on the receiving end for a change!