Heartland (HPY) Implements E2EE System
From Heartland Payment Systems
“Monday’s successful test involved Zones 1, 2, 3 and 4,” detailed Steven M. Elefant, Heartland’s executive director of end-to-end encryption. “We believe that protecting data in these zones alone will significantly impact the protection of cardholder data.
ISR News: CardSystems Breach Spurs Suit
Excerpts From Digital Transactions
Four years later, the fallout from the notorious CardSystems Solutions Inc. data breach—at the time the biggest hacking of payment card data ever—surfaced last week and looks like it could go on for months or even years. Merchant acquirer Merrick Bank Corp. is suing Savvis Inc., the company that inspected CardSystems before the breach, for alleged negligence because Savvis had concluded that the processor’s security systems met Visa Inc.’s standards.
ISR News: Heartland Fights MasterCard Fine
Excerpts From Finextra
“Heartland therefore considers the MasterCard fine to be in direct violation of both the MasterCard rules and applicable law and it intends and is prepared to vigorously contest and it has recommended to its sponsor banks that they vigorously contest, through all means available including litigation if necessary any liability that may be asserted or imposed upon Heartland or its sponsor banks by reason of this fine,” says Carr.
Heartland Regains PCI Compliant Status
By Anthony M. Freed, Information-Security-Resources.com Financial Editor
Heartland’s removal from the list of compliant payment processors had followed revelations that the company had suffered what may have been the largest data breach of payment card information to date, although details of the incident and similar events at RBS WorldPay (RBS) have not been made available due to ongoing investigations.
ISR News: IBM’s Financial New World Order
Excerpts From Finextra.com
The study predicts significant consolidation in segments wrought with over-capacity - such as investment banking, asset management, and wealth management - as firms adapt to a new lower-margin landscape where they will need to specialise around services that clients value rather than continuing to provide a full range of in-house services. Enhanced regulation and transparency will also eliminate opacity, with previously high-margin activities becoming commoditised.
ISR News: IRS Taps Troubled RBS WorldPay
Excerpts From WashingtonPost.com
The Internal Revenue Service has awarded a contract to process tax return payments for the coming filing season to RBS Worldpay, a company that recently disclosed that a hacker break-in jeopardized financial data on 1.5 million payroll card holders and at least 1.1 million Social Security numbers.
ISR News: Heartland Class Action Lawsuit
Excerpts From ComputerWeekly.com
An investor has filed a proposed class action in the US district court of New Jersey on behalf of all other investors in Heartland between August 2008 and February 2009. The complaint alleges that Heartland issued false or misleading statements and failed to disclose material adverse facts about its business, operations and prospects during that period. Heartland’s shares during that period also declined from $21.84 per share, or approximately 80%, from its high of $27.19 per share in September 2008.
ISR News: Visa Sanctions RBS Too
Excertps From BankInfoSecurity.com
In the statement, Visa confirmed that both Heartland and RBS WorldPay as a result of their recent data breaches, have been removed from the company’s Payment Card Industry Data Security Standard (PCI DSS) Compliant Service Providers list. This list represents the service providers that Visa has validated as being PCI DSS compliant for merchants and other businesses to run their credit card transactions.
Visa Sanctions: Heartland Issues Statement
STATEMENT FROM HEARTLAND PAYMENT SYSTEMS
March 13, 2009
Heartland was certified as PCI-DSS compliant in April 2008 and expects to continue to be assessed as PCI-DSS compliant in the future. We’re undergoing our 2009 PCI-DSS assessment now, which Heartland believes will be complete no later than May 2009 and will result in Heartland, once again, being assessed as PCI-DSS compliant.
Visa Puts Heartland on Probation Over Breach
By Anthony M. Freed, Information-Security-Resources.com Financial Editor
System Participation - HPS is now in a probationary period, during which it is subject to a number of risk conditions including more stringent security assessments, monitoring and reporting. Subject to these conditions, Heartland will continue to serve as a processor in the Visa system.
