Bankers act to stem damage

Australian banks are struggling to contain the fallout of a serious credit card breach which exposed 40 million account holders last month.

About 130,000 account holders in Australia were hit by the breach after a hacker accessed the network of CardSystems Solutions, a US company that processes credit card transactions.

In the wake of the data theft, Westpac has been hit the hardest re-issuing more than 3,000 credit cards to customers in the past week.

The Commonwealth Bank has re-issued 1,000 cards, NAB 500 and ANZ 11,000 card with 400 customers actually compromised.

In response to the incident, the Australian Bankers' Association has established the Information Security Taskforce with its first meeting scheduled for July 1, 2005.

The taskforce will look at methods for customer notification in future and also at ways to improve security.

While Australian customers are upset it took six months to be notified of the breach, those affected in the US are already filing lawsuits.

A class action lawsuit has been filed in California over the CardSystems Solutions security breach claiming the payment processor was negligent in the way it maintained consumer credit data.

Ira Rothken, managing partner with The Rothken Law Firm, which filed the suit, said monetary damages aren't being sought.

"We're asking the court to order that the defendants give notice to consumers," he said. "There are millions of people whose data was compromised. If we're successful, every one will be informed if their data was compromised. And a subset of those people will hopefully be able to find out if there's any confirmed data theft."

CardSystems processes more than US$15 billion in credit card and online transactions each year.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Michael Crawford

Computerworld
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?