US bank sues IT supplier Savvis
Posted by: Dedicated Servers in Uncategorized, tags: Courthouse News, Credit Card Data, Credit Cards, Data Breach, Hackers, Lost, Merrick Bank, News Service, Payment Processor, Source Computer, Us Bank, Vetted, VisaUS bank sues IT supplier Savvis
IT services company Savvis is being sued by US bank Merrick following a data breach in 2006 at the bank’s payment processor, which had previously been vetted by the supplier.
The Courthouse News Service reported that Merrick Bank is claiming it lost US$16 million after hackers stole unencrypted credit card data from its payment processor, CardSystems. The bank is alleging that Savvis had assessed CardSystems and reported that its security processes met credit card regulations. However, less than a year after the assessment, Merrick said the CardSystems computers were broken into and millions of credit cards were stolen, resulting in the bank having to pay a US $16 millions to Visa and Mastercard in fines.
Source: Computer Weekly
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