Up to 10 Million Mastercard and Visa Cards Breached

Mastercard has confirmed that U.S. based payment processor Global Payments Inc. has had a security breach, potentially compromising up to 10 million credit card accounts. The Secret Service has confirmed the incident and is currently investigating.

Mastercard has taken immediate steps to minimize the damage, releasing a statement Friday addressing the issue. “As a result, we have alerted payment card issuers regarding certain MasterCard accounts that are potentially at risk,” Mastercard’s representatives wrote. “MasterCard’s own systems have not been compromised in any manner.”

Visa is also investigating, according to Brian Krebs, a former Washington Post reporter who broke the story on his blog Krebs on Security. The breach apparently took place between in January and February, 2012, with enough information being stolen to produce counterfeit cards.

Visa just released a statement, writing “Visa Inc. is aware of a potential data compromise incident at a third party entity affecting card account information from all major card brands. There has been no breach of Visa systems, including its core processing network VisaNet.” Visa also assured card holders that they are protected from fraudulent transactions and is expediently notifying affected parties.

Check back with CreditCardProcessing.net as the story unfolds.

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Posted on Friday, March 30th, 2012