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

The role of the cloud in the modern security architecture

Posted on 31 July 2014.  |  Stephen Pao, General Manager, Security Business at Barracuda Networks, offers advice to CISOs concerned about moving the secure storage of their documents into the cloud and discusses how the cloud shaping the modern security architecture.


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

Fri, Aug 1st
    COPYRIGHT 1998-2014 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //