Re: Unnamed Acquirer Processor Breach Timeline, some additional confirmation

[Pia Sachs-Donerkiel <sachs () NEFCU com>]

Just as an FYI- we don't have the choice about the no liability policy (per VISA and MC, etc.), but as a whole, we lose 
far less then we make on interchange, yes, even on the fraud charges. While some FI's abuse this, as a Credit Union, we 
work very hard to help keep our members on the up and up and we don't penalty price or anything. It all depends on the 
FI issuing the card and whether they are out to gouge or make an honest business. Too many are out there to gouge!

That said, I hope it becomes required SOON that if a company like this unnamed processor is hacked, that they have to 
be forthcoming. WE are getting sick and tired of being the bad guy and saying Sorry Mr. Jones, your card has been 
compromised again (for the 3rd time this year) and we need to replace the card, because the fraudsters got everything 
they need to make a counterfeit card again. The level of abuse we get for this is unbelievable, even to those of us in 
the industry for more than 15 years!

Pia SD
Payment Services Supervisor - at one of those credit issuers

-----Original Message-----
From: dataloss-bounces () datalossdb org [mailto:dataloss-bounces () datalossdb org] On Behalf Of *Hobbit*
Sent: Thursday, February 26, 2009 9:42 AM
To: dataloss () datalossdb org
Subject: Re: [Dataloss] Unnamed Acquirer Processor Breach Timeline, some additional confirmation

What seems likely to happen along with all this and future disclosures,
is lots of legalese flung about geared toward the credit outfits
weaseling out of the $50 maximum customer liability.  If it hasn't
happened already, I don't really follow the credit side of things.
But you can bet your own bottom dollar that the "safety guarantee"
I so often hear associated with plastic will be a thing of the
past as the fraud picture gets worse.

Maybe this will start to finally wean people *off* the damn things.

_H*
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