A class action suit was filed last month against Heartland Payment Systems for failure to protect cardholder data. What took so long to find a hack that began in May 2008? What are they doing to protect the numerous merchants who are exposed?
At this point only cardholders are included in the lawsuit. "Because of Heartland's inadequate data security, cardholders have had their card information compromised, have been exposed to the risk of fraud, have spent and will spend time to monitor their accounts and dispute fraudulent charges, and have suffered other economic damages." (PHILADELPHIA Jan. 30/PRNewswire-USNewswire)
What about the many, many merchants who will suffer the same type of loss by shipping, delivery of goods and services only to suffer a chargeback for sales on stolen credit cards. Seldom is a merchant considered a victim but I don't know how else to call it. Learn what you can and must do to reduce your risk of chargeback and potential loss of your merchant account. Request a tip sheet on what you need to do to reduce risk when accepting credit cards and debit cards 800-341-4423 or Request for tip sheet on accepting credit cards
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