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Thursday April 14, 04:36
Cardholders, be aware!
(by Brigitta Zulfitzler)

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Cardholders, be aware! British financial giant HSBC PLC is notifying MasterCard credit cardholders about the data thaft that gives criminals accessment to their credit-card information.

Although HSBC and MasterCard declined to reveal the information about the source ot the cause of the theft, people familiar with the matter hinted at Polo Ralph Lauren. A Polo spokeswoman declined to comment.

Despite the fact that HSBC so far seems to be the only financial institution to reveal the alerting information, still, credit cards issued by other banks also could be in jeopardy.

Visa USA Inc. said in a statement it was aware of a "data security breach" and is "working with the merchant, law enforcement and the affected member financial institutions to monitor and prevent card-related fraud."

A spokeswoman for MasterCard said it has "taken the necessary steps to inform all the [credit-card] issuers that could possibly be impacted by the potential database compromise."

MasterCard and Visa both stated U.S. cardholders are protected from unauthorized transactions.

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Read the related news and articles:
17 May 2005 10:38 AM HSBC seeks partners to start securities firm in China
28 Apr 2005 02:11 PM Spitzer probes subprime lenders, including HSBC and Citigroup
25 Apr 2005 02:50 PM HSBC plans to expand in China
25 Apr 2005 09:42 AM CSFB RAISED HSBC TO «OUTPERFORM»
21 Mar 2005 05:47 AM HSBC HOLDINGS TO SELL ITS AUSTRALIAN ASSET MANAGEMENT COMPANY FOR $17.4 MILLION.
 


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