Visa and Mastercard have been hacked

Details are still coming out, but both are contacting banks. Apparently the hackers got everything, including PINs. So contact your bank about changing your PIN, some banks you can go in to a branch and re-code your card, and keep an eye on your statements for strange activity.

http://wallstcheatsheet.com/stocks/mastercard-gets-hacked.html/


UPDATE: The breach happened at a credit card processor by the name of Global Payments. Their stock dropped 9% before they stopped trading.

http://krebsonsecurity.com/2012/03/mastercard-visa-warn-of-processor-breach/


And Slashdot has a thread:
concealment writes with news that VISA and MasterCard have been warning banks of an incident at a U.S. card processor that may have compromised as many as 10 million credit card numbers. From the article: "Neither VISA nor MasterCard have said which U.S.-based processor was the source of the breach. But affected banks are now starting to analyze transaction data on the compromised cards, in hopes of finding a common point of purchase. Sources at two different major financial institutions said the transactions that most of the cards they analyzed seem to have in common are that they were used in parking garages in and around the New York City area."

http://yro.slashdot.org/story/12/03/30/1454219/visa-mastercard-warn-of-massive-breach-at-credit-card-processor

Here's the thing that I don't get: the hack happened "...between Jan. 21, 2012 and Feb. 25, 2012", so why is it just now being talked about OVER A MONTH LATER.

Also, the main fraud activity seems to be mainly on commercial/business credit cards. Theoretically if your card was issued after Feb. 25, you should be safe.