CardSystems may be driven out of business after the attack

Friday, 22 July 2005, 2:54 PM EST

The head of a payment-processing firm that was infiltrated by computer hackers, exposing as many as 40 million credit card holders to possible fraud, told Congress on Thursday that his company is "facing imminent extinction" because of its disclosure of the breach and industry's reaction to it.

"As a result of coming forward, we are being driven out of business," John Perry, chief executive of CardSystems Solutions Inc., told a House Financial Services Committee subcommittee considering data-protection legislation. If his firm is forced to shut down, he said, other financial companies will think twice about disclosing such attacks.

By Jonathan Krim at the Detroit News.

[ Read more ]




Spotlight

10 practical security tips for DevOps

By working with the DevOps team, you can ensure that the production environment is more predictable, auditable and more secure than before. The key is to integrate your security requirements into the DevOps pipeline.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  
DON'T
MISS

Tue, Mar 31st
    COPYRIGHT 1998-2015 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //