Why can’t banks say where a security breach has occurred?
Today I got a letter from my bank staying that Visa has informed them that my information was “revealed to unauthorized persons by a company that processes ATM/Credit Cards”. They also replaced the credit card with a new one (new number) and stop the old one from operating.
Out of curiosity, I wanted to know which company or processor has revealed my information to “unauthorized persons.” After calling the number provided on the letter for “more information,” I was informed that they could not reveal who the company is.
Anyone knows why such information can not be released? When big processors get in this trouble, their name is revealed and it is all over the news. Why can’t this be applied to smaller security breaches?
For the mean time, I am contacting all companies who have reoccurring charges on that card to update the information.
Unless and until the bank not confirm that the information is accurate, reliable, authentic and complete they usually avoid to disclose it as normally the information’s is shared only among authorized top level person of the bank.
In my case, I only wanted to know who was the company that had the security breach. I am sure they know who it is and they confirmed that a security breach has indeed occurred; otherwise, they would not have sent me this information to begin with.
I guess, probably they are in process to confirm about the security breach by that particular company accurately with some documentary evidence or so, that may be the reason that they’re not providing the name of the company at this stage.
this is the way big buissness works these days man, theyd rather not tell anyone cause if they can get by you wont hopefully figure it out and stay with that company especially cause if there not adiquitly staffed for security
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