Security Breaches — Whither policy can reduce?

This post by the Post needs unpacking…

A data breach last year at Princeton, N.J., payment processor Heartland Payment Systems may have led to the theft of more than 100 million credit and debit card accounts, the company said today.

The Heartland disclosure follows a year of similar breach disclosures at several major U.S. cards processors. On December 23, RBS Worldpay, a subsidiary of Citizens Financial Group Inc., said a breach of its payment systems may have affected more than 1.5 million people.

In March 2008, Hannaford Brothers Co. disclosed that a breach of its payment systems — also aided by malicious software — compromised at least 4.2 million credit and debit card accounts.

In early 2007, TJX Companies Inc., the parent of retailers Marshalls and TJ Maxx said a number of breaches over a three-year period exposed more than 45 million credit and debit card numbers.

In 2005, a breach at payment card processor CardSystems Solutions jeopardized roughly 40 million credit and debit card accounts.

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