Comments on: Top Fraud Incidents of 2008 http://www.merchant911.org/blog/index.php/2009/01/05/top-fraud-incidents-of-2008/ Comments on credit card fraud from the E-Commerce Merchant point of view by Tom Mahoney, Founder and Director of Merchant911.org Thu, 02 Sep 2010 16:46:55 +0000 hourly 1 http://wordpress.org/?v=abc By: Tom Mahoney http://www.merchant911.org/blog/index.php/2009/01/05/top-fraud-incidents-of-2008/comment-page-1/#comment-1751 Tom Mahoney Tue, 06 Jan 2009 13:01:38 +0000 http://www.merchant911.org/blog/?p=180#comment-1751 They're working on it. According to the Washington Post, the number of breaches is up "nearly 50%" and the number of records is 35.7 million. http://www.washingtonpost.com/wp-dyn/content/article/2009/01/05/AR2009010503046.html It all depends on how you spin it. There is the number of breaches and there is the number of records. Remember that in 2007 the TJX breach alone accounted for 94 million records - almost three times the 2008 total. In '05 there was the Card Systems Solutions of 40 million. The TJX breach was preventable and there is no excuse for it but I hold banks and processors to a higher standard than a retailer. In my mind, the careless loss of a backup tape with 650,000 records is on par with 40 million records stolen in a sophisticated hack. The payment industry is fining small merchants for PCI compliance violations while banks and processors are loosing backup tapes. What's wrong with that picture! They’re working on it. According to the Washington Post, the number of breaches is up “nearly 50%” and the number of records is 35.7 million.

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/05/AR2009010503046.html

It all depends on how you spin it. There is the number of breaches and there is the number of records. Remember that in 2007 the TJX breach alone accounted for 94 million records – almost three times the 2008 total. In ’05 there was the Card Systems Solutions of 40 million.

The TJX breach was preventable and there is no excuse for it but I hold banks and processors to a higher standard than a retailer. In my mind, the careless loss of a backup tape with 650,000 records is on par with 40 million records stolen in a sophisticated hack.

The payment industry is fining small merchants for PCI compliance violations while banks and processors are loosing backup tapes. What’s wrong with that picture!

]]> By: Adrian http://www.merchant911.org/blog/index.php/2009/01/05/top-fraud-incidents-of-2008/comment-page-1/#comment-1750 Adrian Tue, 06 Jan 2009 06:32:45 +0000 http://www.merchant911.org/blog/?p=180#comment-1750 <> That's almost 1/8 of the entire US population compromised ...IN ONE YEAR!!! How long do these guys require to expose the rest of the continent? <>

That’s almost 1/8 of the entire US population compromised …IN ONE YEAR!!!
How long do these guys require to expose the rest of the continent?

]]>