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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters U.S. payment-card industry grapples with security Mon Aug 24, 2009 2:06pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Ross Kerber BOSTON (Reuters) - Fresh details of large-scale cyber attacks against data processor Heartland Payment Systems Inc and supermarket chain Hannaford Brothers show the challenges facing the efforts of the U.S. credit-card industry to upgrade security measures. While both companies say their computer networks met the tough new standards meant to prevent data breaches, Visa Inc said Heartland at least may have let its guard down. The positions reflect broader disagreements in the industry, as squabbling between merchants and financial firms over technology and the cost of systems upgrades continues to impede progress, said Robert Vamosi, an analyst for California consulting firm Javelin Strategy & Research. "They both need to fight fraud and they are fighting each other," he said. The financial stakes are getting higher. Fraud involving credit and debit cards reached $22 billion last year, up from $19 billion in 2007, according to California consulting firm Javelin Strategy & Research. The security of consumer information came under renewed scrutiny on August 17 when a 28-year-old Florida man, Albert Gonzalez, was indicted along with two other unnamed hackers for breaching the computer networks of Heartland and Hannaford, both of which said they were in compliance with security requirements. Those standards were set by a council that includes the world's two largest credit card networks, Visa and MasterCard Inc; fast-food leader McDonald's Corp; oil major Exxon Mobil Corp; and big banks Bank of America Corp and Royal Bank of Scotland Plc. All these companies face rising costs linked to fraud and its prevention. Of the 275,284 complaints received last year by the government's Internet Crime Complaint Center, 24,775 were tied to credit or debit card fraud, up from 13,033 in 2007 and 9,960 in 2006. Yet some 5 percent of the largest retailers and restaurants still have not met compliance deadlines set in 2007, according to Visa. Even companies that meet the standards could be vulnerable should they lower their guard, Visa security executive Ellen Richey said last spring in a speech critical of Heartland. "It was the lack of ongoing vigilance in maintaining compliance that left the company vulnerable to attack," she said in March. Merchants, for their part, complain via trade groups like the National Retail Federation that Visa and MasterCard are asking them to pay more than their fair share for security upgrades. Some retail executives also say Visa and MasterCard have been slow to adopt better encryption technology and cards with high-security computer chips because of the associated costs. "I can't even tell you how many sour, disgruntled calls I get from retailers," said Gartner Inc technology consultant Avivah Litan, who also works with banks. GOVERNMENT REGULATION? Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! 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