Central Bank monitoring credit card breach

creditcardsBarbadian regulators have been notified of a credit card security breach which now has local banks and their card holders nervous.

The Central Bank of Barbados is monitoring the situation, but has been informed of no negative fallout so far, Public Affairs Officer, Novaline Brewster said.

“This matter was brought to the bank’s attention by one of its licensees when it arose and the bank has been monitoring. Regulators throughout the region as well as the bank’s customers have also been advised,” she informed Barbados TODAY.

“We are satisfied that the bank is taking all preventative measures necessary and to date no negative fallout has come to its attention.”

Word of the credit card breach, which involved “a third party service provider” in Barbados and has raised concerns in the regional banking sector, emerged last week, and prompted the release of a “credit card alert” by the Caribbean Association of Banks based in St. Lucia.

While that notice indicated that credit unions in the region might have also been affected by the incident the CAB said involved “a number of Visa and MasterCard branded debit and credit cards”, a Barbadian credit union official told Barbados TODAY the problem had so far been largely a bank sector one.

Some banks in Barbados have already notified their credit card holders, and some have replaced cards affected by the suspected leaking of customer information including card numbers names and addresses of the card holders and the expiry dates. (SC)

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