A large number of customers in the US have had their cards cancelled due to a breach in security that took place at a merchant. It is believed that the merchant informed Visa about the breach and Visa has advised the affected financial institutions about the incident.
Washington Mutual Inc. and Bank of America have blocked and reissued some cards, but did not divulge the numbers or the nature of the breach. It is believed that at least 200,000 customers may have been affected by the breach.
According to legal provisions, it is the merchant’s and not the bank’s responsibility to inform the customers. This case is certain to bring forth debate on security and the appropriate channel of communicating to the customer of such breaches. In this case, it is possible that the merchant is shying away from its responsibility as it does not want to reveal its identity.
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