Wednesday, February 19, 2003

Hackers broke into a 3rd party credit card transaction processing center (System break-in nets info on 5.6 million credit cards) and retrieved millions of account numbers. Its unclear if names were associated with the numbers. What is clear, though, is that at least one bank lied to the reporter:

"Citizens Bank was notified of the crime by MasterCard on Friday and immediately canceled the affected credit cards to protect its customers"

The customers were already protected by laws limiting their liability. The bank was acting to prevent its own losses at the possible cost of great inconvenience to its customers. That's one bank I'll stay away from.

(Also, please note that no "identity theft" is involved, but this incident will certainly show up in reviews of other identity theft stories!)

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