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Global Payment Inc Case Study Case Study

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Global Payment Inc. Security Breach Case Study

Lovepreet Dhaliwal

DeVry University

Accounting Information System

Professor Douglas Letsch

Douglas

The case study I choose to look at was the one that happened to be just recently that occurred March of last year 2012, where a company by the name of Global Payments Inc., whom is a processor company for credit and debit card for Visa and MasterCard’s, and according to the wall street journal it was hit by a security breach. In the article it acknowledges that Brian Krebs, who runs a security site www.kerbsonsecurity.com, reported that his sources in the financial said the breach might involve more than 10 million compromised card numbers. Master card said in a statement they have alerted payment card issuers regarding certain MasterCard accounts that were potentially at risk, and they have also hired an independent data security organization, which is conducting a forensic review of the situation. MasterCard had also implied that it wasn’t there own system that been damaged by the security breach but it was the third party, which is Global Payment system that had been hit by it. One of Visa’s spokeswoman stated in an email “that there is no issue or impact to Visa’s systems or our processing network VisaNet. This is an issue with a third-party”. As MasterCard and Visa sent alerts to banks, Krebs reported, the card processor was compromised between Jan. 21-Feb 15, and banks are reviewing transaction in data trying to determine a common point of purchase. This is why having transaction data is very important as it helps out with tracking back to a person’s purchases and trying to determine if the information from the card was stolen and is being used somewhere else. It was also determine that full Track 1 and Track

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