Global Payments confirm that the security breaches of data were checked & controlled

Tuesday, April 24th, 2012
Updated: April 24th, 2012
The content is accurate at the time of publication and is subject to change.

The latest breach of security related to credit cards has cost the data losses or exposure of more than 1.5 million credit card holders. The most toll of the breach was provided by the Global Payments Company.

Global Payments provides credit cards to companies such as Visa, MasterCard, Discover Financial services, American Express, etc. The card processing company has however admitted that the online hackers have got their access to the account numbers of the card of several individuals, the data regarding the card expiration along with other security codes of the credit card holders.

This not only made the card processing company Global Payments lose a lot of their shares in the stock exchange but also earned them certain rebukes from their clients, most of which have removed their name from their third party approval list. The companies taking such steps would include names like Visa & the MasterCard. However the American Express authorities have raised their concerns & confirmed that they are looking into the matter & checking the extent of the breach & its potential impact on the customer related data or other personal information.

During the weekend the Global Payments authorities have confirmed that the hackers have somehow exported the information they stole from their server. However the authorities of the card processing firm has revealed proofs & claimed that the hackers could not gain access to the names of the individual card users, their address & the associated Social Security Numbers. This report was certified by the CEO of the concerned firm Paul Garcia who also claimed that the security issues would be increased & more money would be invested on the security concerns. He added that “he was not at all surprised with their disapproval from the Visa’s list of third party providers. He also expected the MasterCard to take a similar kind of action.”

As a matter of fact there are reports that the hackers can take more control of the personal data collected from the breach of security. In the month of June the computer hackers stole information from about 360,000 credit cards or the accounts from the houses of the Citigroup. With such instances looming large there have been a lot of concerns among the bank authorities as well as the credit card holders who are now a touch bothered before opening any account with banks related to the Global Payments Company.

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