MADISON, Wis. — Despite Heartland Payment Systems attempt to play down the significance of a security breach in a recent announcement, it appears that hackers were able to compromise a significant number of card accounts, according to CUNA Mutual Group.
"Although the exact number of affected cards is not known, it is expected to be many millions. Card-issuing credit unions and their members will be impacted by this breach," said Chuck Cashman, an executive with CUNA Mutual's Plastic Card Insurance.
The insurer reported that Visa and MasterCard have confirmed a significant number of credit and debit card accounts were compromised in the 2008 breach, which the company announced on Jan. 20.
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Cashman said the insurer had been looking into a spike in card fraud since October 2008 and appeared to have concluded that the Heartland breach had been the source.
"CUNA Mutual Risk Management detected that something big was happening," Cashman said. "We reported our findings to both card associations to help facilitate an investigation to determine if a breach had occurred and, if so, its origin. It seems our worst fears are coming true, but we are relieved that it's finally been solved."
Heartland has not yet commented further on the breach.
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