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Security News South Africa

When PCI compliance isn't enough

US - High-profile data breaches continue to spotlight the growing risks consumers face of identity theft and credit card fraud. Four highly visible data breaches disclosed in the last 18 months are particularly worrisome because they show a systemic failure in the procedures that both the public and regulatory agencies expect companies to get right.

One notorious incident involved retail giant TJX. In that case, hackers stole some 46 million credit and debit card numbers when they accessed the computer systems at two TJX corporate hubs over a period of several years. By some estimates, the intrusion was the biggest breach of personal data ever reported.

TJX officials reported that unauthorised software placed on its computer systems stole at least 100 files containing data on millions of accounts from systems that process and store transaction information in those two locations. TJX officials believe the hackers were able to steal payment card data from one system as transactions were being approved. The hackers may have had access to the company's data encryption tool.

Read the full article here.

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