CardSystems Solutions Settles FTC Charges

["Fergie" <fergdawg () netzero net>]

Via The FTC.

[snip]

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.

This is the ninth FTC case targeting companies whose security practices compromised consumers' confidential financial 
information, and the first the Commission has brought against a credit card processor.

[snip]

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

- ferg


--
"Fergie", a.k.a. Paul Ferguson
 Engineering Architecture for the Internet
 fergdawg () netzero net or fergdawg () sbcglobal net
 ferg's tech blog: http://fergdawg.blogspot.com/


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