Credit card data thieves are holding onto their inventory until the market for stolen data improves. Unless specific actions are taken, cardholders may continue to be at risk for years.
Hoboken, New Jersey (PRWEB) March 24, 2014
eMazzanti Technologies CEO, Carl Mazzanti, raised important concerns about recent credit card data thefts as he discussed “Payment Card Industries and the Target Breach” on the popular blogtalkradio program VMB, The Voice of Manhattan Business, sponsored by the Manhattan Chamber of Commerce.
“Credit card data thieves are holding onto their inventory until the market for stolen data improves,” stated Mazzanti following the program. “Unless specific actions are taken, cardholders may continue to be at risk for years.”
In the informative interview, Mazzanti discussed details of the recent Target security breach and credit card security for retail businesses. Of particular interest are statements that millions of customers whose card information was stolen in the Target breach may be at risk for up to three years if preventative action is not taken.
Mazzanti explained that the “market” for stolen credit card data is currently flooded, pushing prices down from five dollars per account to just pennies. Thus, most of the compromised credit cards are purposely being withheld from the market by criminals until the price for the stolen data improves. If cardholders or their credit card companies don’t take appropriate action the cards may be at risk until their expiration dates, even if no fraudulent activity is detected in the weeks following the breach.
Also discussed in the program were small and medium business (SMB) statistics for data security breaches, which happen once every three seconds and cost an average of $188,242 per event. Mazzanti concluded the program by identifying the steps that a business should take if a security breach is suspected.
What to do if you suspect a credit card data security breach at your business:
1. Call a professional IT security expert
2. Call the local authorities for assistance
3. Contact the security response desk at the credit card companies involved
4. Quickly pursue a campaign to inform customers of the potential breach
“Effective data security is a mindset,” stated Mazzanti. “We always choose security over what might be an easier approach with our clients.”
The timely 45 minute program aired at Noon, March 19, 2014, however eMazzanti encourages everyone to access the complete recorded interview.
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About eMazzanti Technologies
eMazzanti Technologies’ team of trained, certified experts provide 24×7 outsourced IT support to strengthen payment card industry (PCI) security, ensure business productivity and address challenges of growth, cloud computing, mobility, critical business continuity and disaster recovery demands. The consultancy has special expertise in retail, manufacturing, distribution, financial, architectural, engineering, construction, government, educational, legal services, accounting, marketing communications, and healthcare market segments, while maintaining high customer satisfaction levels. Flexible support plans range from fixed-fee, around-the-clock network management where eMazzanti functions as an extension of a businesses’ IT staff to a custom-solution provided on an as-needed basis.
eMazzanti serves the Hoboken, NJ and NYC area markets as well as regional, national and international business support requirements. The IT firm is Microsoft’s 2012 Partner of the Year and on-going Gold Partner, Microsoft Northeast Region Partner of the Year, a four-time recipient of WatchGuard’s Partner of the Year and has achieved the Inc. 5000 list for the fourth year in a row. Download the free article: How to Select an IT Provider. More than 400 companies trust their IT support needs to eMazzanti Technologies. For more information contact: Carl Mazzanti 201-360-4400 or emazzanti.net. Twitter: @emazzanti, Facebook: Facebook.com/emazzantitechnologies.