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Card Information Compromised after Online Security Breach Hit US Banks and Card Processors

US banks and processors alarmed after Global Payments Inc., an electronic transaction provider, reported an online security breach generating numerous fraudulent transactions after card holder's information were exposed online.

May 28, 2012 - Global Payments Inc. was the first to learn of the unauthorized access into the payment systems. Kreb on Security, which first reported the incident, claimed that the damage brought by the breach may be massive and may affect millions of card holders although the number of affected cardholders is not yet clear.

Among the banks and payments companies which confirmed to be affected by the breach are MasterCard Inc. (MA) Visa Inc. (V), American Express Co. (AXP) and Discover Financial Services (DFS). Following the incident, the affected companies alerted the law enforcement authorities and notified affected card holders and issues about the breach.

Many people favour online shopping and banking for the convenience it offers. However, as the online society houses all range of people, those with malicious and selfish intents included, it pays to be extra cautious of the websites you visit. Knowing and ensuring the website's security before entering any personal information is a must so as not to be victims of cyber criminals. One way of checking if a website is trusted is by identifying the website owner's identity through the Secure Socket Layer (SSL) digital certificate installed on the website.

A URL that begins with "https" and a padlock on the browser's address bar are indications of a secured site with installed SSL certificates. In addition to the above mentioned features, the address bar will be displayed in green if a website has an advanced certificate such as Extended Validation SSL (EV SSL) allowing the user to more easily notice that the website is using the optimum security available.

You need not be an information technology expert to know if the website you are visiting is secure or not. You just need to be keen enough to look for the key indicators of a secure website.

GlobalSign offers SSL certificates capable of catering the needs of individuals, organizations, and enterprises. GlobalSign SSL certificates guarantee users a safe and secure web browsing and online transaction experience. More than security, trust is what GlobalSign SSL Certificates offer. Installing SSL certificates provides mutual benefit for both users and providers. While users enjoy a threat free browsing, businesses gain consumers' trust resulting to patronage and boost in the sales of products and services.

Aware that online threats choose no website to attack, the next time you submit you card information to purchase or pay your bill online make sure you are equipped with the skill of identifying whether the site you are visiting is trusted with SSL certificate or not.


Reference:
LaCapra, L. (2012). Security breach hit US card processors, banks. Retrieved May 17, 2012, from, http://www.reuters.com/article/2012/03/31/us-mastercard-breach-idUSBRE82T0VD20120331

Keyword: Credit Card, Online Security, Information Security SSL certificate, EV SSL, GlobalSign