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Press Release – January 22, 2009
"At 4:00 pm Wednesday, January 21, 2009 Iowa Trust & Savings Bank was notified by the SHAZAM Electronic Processing Network that MasterCard Fraud Management was investigating a possible account data compromise in the United States" reported Kris Ausborn, President & CEO of Iowa Trust & Savings Bank. "This data breach was disclosed by Heartland Payment Systems, a credit and debit card processing service based in New Jersey. Heartland claims no Social Security numbers, personal identification numbers (PIN number) addresses or telephone numbers were compromised" continued Ausborn.
"Each time that we receive notice of a security issue, our first response is to immediately review the information and determine the appropriate course of action" stated Ausborn. "Given that Heartland processes more than 100 million card transactions per month primarily for small and mid-sized businesses, we realized the magnitude was one of the largest, if not the largest, security compromises in history and will affect nearly every financial institution in the U.S."
Ausborn stated "Our first priority is the security of our customers’ information. While this breach was not the result of any action by Iowa Trust, we are the first line of defense to protecting our customers’ accounts. Iowa Trust staff immediately began the process of cancelling the debit card and notifying each customer included on the SHAZAM list that they may have had a transaction compromised by Heartland Payment Systems." Ausborn continued "We also informed the customer that a new debit card with a new account number will be reissued and arrive in 7 to 10 days."
"One question we usually receive is ‘Do I need to change my checking account number?’ The answer is no. The only change the customer will notice is a new debit card number" continued Ausborn. "If an Iowa Trust staff member has not contacted you, your debit card information is secure".
"We regret the inconvenience that the action of cancelling and reissuing a debit card has on our customers; However, we will do everything possible to protect our customers’ financial information" stated Ausborn. |
