TELECOM Digest OnLine - Sorted: Re: MasterCard Says 40 Million Files Put at Risk

Re: MasterCard Says 40 Million Files Put at Risk
Sun, 19 Jun 2005 02:23:56 -0700

Monty Solomon wrote:

> MasterCard said its investigation found that CardSystems, in
> violation of MasterCard's rules, was storing cardholders' account
> numbers and security codes on its computer systems. That information,
> MasterCard said, was supposed to be transferred to the bank handling
> the merchants' transactions but not retained by CardSystems.

Bankers have been some of the greatest proponents of deregulation over
the past 20, or so years, saying "We can self regulate our banking
industry far better than can government."

Right ...

[TELECOM Digest Editor's Note: And look at the mess they have made
of things in this latest fiasco; all sorts of personal information
given away. PAT]

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