Credit Card Company Warns 180,000 of Potential Breach

The latest in a string of high-profile data thefts seems to have originated with retailer Polo Ralph Lauren Inc., the Associated Press reported.

Data was reportedly stolen from the popular clothing retailer, forcing banks and credit card companies to inform 180,000 customers that their credit-card information may have been exposed.

HSBC North America, a division of London-based HSBC Holdings PLC, has begun notifying holders of the HSBC-issued, General Motors-branded MasterCard that criminals may have obtained access to their credit card information and that the cards should be replaced, the AP reported.

HSBC spokesman Stephen E. Cohen told the AP Thursday that "we began doing it last week, and we are continuing," confirming that about 180,000 GM-branded cardholders are affected.

The retailer was not named by Cohen or MasterCard International, but the breach was reported in Thursday's editions of The Wall Street Journal, which quoted "people with knowledge of the matter" as saying the data was stolen at Polo Ralph Lauren.

A spokeswoman at Polo Ralph Lauren, which is headquartered in New York, said “we have no comment at the moment” on the report and asked that her name not be used, the AP reported.

While it was not certain how many other credit cards might have been involved in the breach, Visa USA Inc. and MasterCard-the nation's largest credit card associations-were both reported to be dealing with Polo Ralph Lauren on the matter, the AP reported.

"Investigations into this incident by MasterCard, law enforcement and other parties are ongoing," MasterCard said in a statement.

Earlier this week, LexisNexis Group said a security breach at its huge public and private database could have affected as many as 310,000 people.

You may like these other stories...

OECD calls for coordinated fight against corporate tax avoidanceDavid Jolly of the New York Times reported that dozens of countries with the most advanced economies have agreed on principles for concrete action to prevent...
Plan ahead before you buy some shares in a stock mutual fund near yearend, when the fund is about to pay a dividend. It might be better to wait until after the fund goes "ex-dividend," that is, wait until after the...
AgFeed agrees to pay $18 million to settle SEC accounting fraud caseMichael Rapoport of the Wall Street Journal reported on Monday that AgFeed Industries Inc. has agreed to pay $18 million to settle US Securities and...

Already a member? log in here.

Upcoming CPE Webinars

Sep 18
In this course, Amber Setter will shine the light on different types of leadership behavior- an integral part of everyone's career.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.