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Nets hit by massive data breach

Friday 28 October 2016 14:50 CET | News

Payments processor Nets has been hit by a data breach that could have left up to 100,000 credit cards at risk of fraud. 

The company has linked the breach to a third-party internet retailer. Nets has notified local banks and suggested they begin replacing cards.

Nets says that by replacing possibly compromised cards pre-emptively, banks and shops can save an amount in the triple-digit million (Danish crowns) range, which they could suffer in losses from trades made with stolen credit card information.

Denmark-based lender Jyske Bank has already blocked and replaced 7,000 card. None of the cards reported at risk have been tampered with, yet Nets is still urging proactive measures. It has also brought Visa and Mastercard into the fold to investigate the breach further.


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Keywords: data breach, cybercrime, credit cards, fraud, Nets
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime