in Search

ID theft

All about how it happens and how you can keep it from happening to you.

The vultures are circling

And so it begins. It’s been less than a month since Heartland Payment Systems revealed they’d been hacked and consumers’ data stolen and already three class actions suits have been filed.

 

In the class action suits filed on behalf of consumers the attorneys involved allege that Heartland failed to safeguard consumer data. In another lawsuit filed by the  Haverford, PA law firm Chrimicles & Tilellis against Heartland on behalf of an individual cardholder, the law firm asserts that the credit card transaction processing company “made unreasonably belated and inaccurate statements concerning the breach.”

 

One of the class action suits has been filed by the Philadelphia law firm Berger and Montague, a firm involved in a class action suit against TJX that delivered a $200 million settlement for their claimants. To date, the TJX data breach, formerly the largest breach on record, has cost the retail giant somewhere in the neighborhood of $1 billion. In that hacking, 45.7 million credit card accounts were compromised.

 

There is still a dearth of information when it comes to how many credit card accounts were actually affected by the data breach, but it is known that Heartland processes roughly 100 million credit card transactions each month.

 

So far, more than 330 financial institutions say they’ve had to reissue their credit cards because of fraud or the fear thereof. No word yet on lawsuits on behalf of the banks, but it’s just a matter of time.

 

 

 

 
Published Feb 16 2009, 10:12 PM by IdentityTheft
Add to Bloglines Add to Del.icio.us Add to digg Add to Facebook Add to Google Bookmarks Add to Newsvine Add to reddit Add to Stumble Upon Add to Shoutwire Add to Squidoo Add to Technorati Add to Yahoo My Web

This Blog

Syndication

Tags