[Dataloss] CardSystems Settles FTC Charges

[Adam Shostack]

Shocked, shocked to discover.

See also http://www.emergentchaos.com/archives/002483.html



On Thu, Feb 23, 2006 at 09:06:48PM -0500, Adrian Sanabria wrote:
| It is too little, too late, and the FTC is missing a big opportunity
| to make a real difference. Everyone suprised?
| 
| 
| On 2/23/06, lyger <lyger at attrition.org> wrote:
| >
| > 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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| >
| 
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