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September 2002

Fraudsters Find Holes In Payment System --- Friday, September 20, 2002

Epay News:

Sep 19 2002 : While US card processors argue that the recent online security breach involving processor, Online Data, could have been avoided with the use of strong passwords, cracks still remain in the credit card system. As fraud expert, Dan Clements, warns, "the bigger story is where the thieves got this information ... it's possible that a hole in a database needs to be plugged [and] they could still be mining for credit card numbers". Paul Hynek, an e-tailer involved in the recent case, similarly observes, "the scary part is that over 60,000 people had their credit card accounts violated and a lot of them dont even know".

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