Tyler Estep reports:
Officials at a Norcross-based bank stressed Friday that, despite account holders falling victim to fraud in recent days, their own systems have not been compromised.
Approximately 100 members of Associated Credit Union have experienced fraudulent transactions in their checking accounts recently, bank spokeswoman Callie Calderbank said. The transactions are believed to be the result of thieves accessing check and ATM card information through a separate processing company before making new, fake cards using that information, she said.
The cards are then illegally sold throughout the country.
“Thieves have accessed card information from a company which processes transactions for merchants,” Calderbank said. “It has absolutely not been through our account information or our computer system.”
Read more on Gwinnet Daily Post.
Clearly we need more information before we can “name” this breach. The question is – how wide spread will this end up becoming? If it is a card processor, this could be another Heartland or Card Systems explosion we don’t know about yet.
Why the secrecy? Someone must know what system processed those cards.
The levee has broken- the flood is coming: It’s there in black and white- Calderbank repeatedly stressed that the bank’s security itself has not been breached.
“We are one of many credit unions and banks across the country that are dealing with this issue,” she said.
I’m not convinced that it is a payment processor. Ever since Heartland, we’ve seen a lot of breaches where people started saying “processor” and it wasn’t. Time will tell, of course, but in the meantime, I note that the Michaels Store breach has reportedly really being hitting in the northwest the past week or so. So who knows – maybe all of these reports will turn out to be part of a breach we already knew about.