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Visa Says ATM Breach May Have Exposed Data (Tuesday June 20, 10:43 pm ET, By Michael Liedtke, AP Business Writer - Visa Acknowledges ATM Security Breach Has Exposed More Consumers to Potential Mischief)
SAN FRANCISCO (AP) -- Visa USA on Tuesday confirmed an ATM security breakdown has exposed more consumers to potential mischief, the latest in a long line of lapses that have illuminated the often flimsy controls over the personal information entrusted to businesses, schools and government agencies. The latest breach dates back to February when San Francisco-based Visa began notifying banks of a security problem affecting a U.S.-based contractor that processed automated teller machine transactions.
Visa, one of the nation's largest issuer credit and debit cards, publicly acknowledged the trouble Tuesday in response to media inquiries prompted by Wachovia Bank's decision to replace an untold number of debit cards issued to its customers. Charlotte, N.C.-based Wachovia issued the card replacements last week as an antifraud measure, said bank spokeswoman Mary Beth Navarro. She declined to explain the circumstances that triggered the action after several months.
Visa also gave out few details about the incident. Thousands of banks have issued millions of debit cards bearing the Visa logo. In a statement, Visa said it is working with its member banks and authorities "to do whatever is necessary to protect cardholders." Under Visa's policy, consumers aren't held liable for any unauthorized purchases made with their cards. Visa's security headache is hardly isolated. In recent years, a wide ranges of businesses and bureaucrats have fumbled away Social Security numbers and other sensitive information that could be used to tap into the finances and Credit Records of unwitting consumers.
In one of the most far-flung breaches to surface so far, the Social Security numbers and other personal information of 26.5 million U.S. military veterans was stolen last month when an employee took some digital data to review at home. Visa has encountered security problems with other contractors besides the ATM processor that triggered the February alert.
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