In a bold move, MasterCard lays down the law on CardSystems. And by “lay down the law”, I mean they upped the ante from recommending they comply with security procedures to “putting them on notice” to comply. Um…. Is it me, or does that sound like the same thing to you? If the only ramifications from MasterCard is in the vein of finger wagging, it shouldn’t be surprising that CardSystems would fail to take the regulations seriously. I’m concerned – this foolishness at CardSystems was the biggest loss of financial account data ever and MasterCard’s reaction was to “put them on notice”? What do you have to do before they take any stronger action?
“Stop! Or I’ll say stop again!”