Danish Payment Processing Firm Nets Suspects Losing 100,000 credit cards to Hackers.
Nets, a well-known Danish payment processing company claims to have lost 100,000 credit cards to hackers. The company has even informed local banks to block up the 100,000 credit cards, which are suspected to be compromised by hackers.
MUST READ: CRIMINALS STEAL 1.44 BILLION YEN ($13 M) FROM 1,400 ATMS IN 2½ HOURS
According to Reuters, the data breach occurred due to transactions made to a particular foreign-based internet service provider. After the transactions, the company suspected something fishy about the credit card data and hence, took the step to inform the banks so that any further exploitation could be avoided.
“By replacing possibly compromised cards preemptively, banks and shops can save an amount in the triple digit million (Danish crowns) range, which they could suffer in losses from trades made with stolen credit card information,” stated Nets’ representative.
Currently, Nets believes that there is no sign indicating that the compromised credit cards have been tampered with but the company is taking precautionary measures to avoid any inconvenience to its customers in the future.
Jyske Bank, one of the lenders affiliated with Nets, has informed about blocking and replacing of around 7,000 credit cards and an investigation has already been launched by prominent credit card companies including Mastercard and Visa.
ALSO READ: STANDARD CHARTERED BANK HACKED — HACKERS STOLE MONEY VIA ATMS
This is the second time in October that a news about massive credit card hack has but reported. Last week, State bank of India blocked millions of credit and debit cards after discovering a malware attack on ATMs throughout the country.