CardSystems Settles FTC Charges

[lyger <lyger () attrition org>]

http://www.ftc.gov/opa/2006/02/cardsystems_r.htm

In the largest known compromise of financial data to date, CardSystems 
Solutions, Inc. and its successor, Solidus Networks, Inc., doing business 
as Pay By Touch Solutions, have agreed to settle Federal Trade Commission 
charges that CardSystems' failure to take appropriate security measures to 
protect the sensitive information of tens of millions of consumers was an 
unfair practice that violated federal law. According to the FTC, the 
security breach resulted in millions of dollars in fraudulent purchases. 
The settlement will require CardSystems and Pay By Touch to implement a 
comprehensive information security program and obtain audits by an 
independent third-party security professional every other year for 20 
years.

[...]

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