It was recently disclosed that Slim CD, a payment gateway, suffered a data breach that exposed many, many credit card accounts (nearly 1.7 million) from August 17th, 2023, until June 15th, 2024.
Let’s discuss the situation and how it provides a lesson for your business to take seriously.
Around June 15th, the payment processor identified some suspicious activity in its network and, upon launching a full investigation with the assistance of a third-party specialist, discovered that someone had gained access to their systems sometime between August 17th, 2023, and June 15th, 2024. This access allowed the responsible party to view and potentially collect sensitive information—names, addresses, credit card numbers, and expiration dates—between June 14th and 15th.
To its credit, Slim CD has met its legal obligations, reporting the incident to federal and regulatory authorities and sending emails to those potentially impacted by the breach.
In the case that Slim CD should contact you (or even if you’re just concerned about the possibility), there are various steps that you should take to help reduce the chance of fraud or identity theft:
Of course, it is essential for all businesses, not just payment processors, to keep their data secure. A few methods will prove effective in doing this.
First and foremost, ensure that your security tools and measures are kept up to date, updating your cybersecurity solutions whenever an update is available.
Second, ensure your team members abide by security best practices, particularly regarding their passwords.
Third, ensure your team is trained to spot potential threats and report them to the appropriate resources. This can help eliminate many issues before they manifest.
At NetMGM, we don’t stop at providing the businesses of nationwide with comprehensive and proactive IT services. We also want to make sure that they are as protected as possible to help minimize their cybersecurity risks. Give us a call at 888-748-2525 to learn what we can do to help defend your business.