That hundreds
of millions of card numbers could be stolen illustrates the flaws in a
payment system built more for "speed" and "convenience" than security, an Associated Press
investigation found this year. Although banks and retailers eat the costs of most fraud, consumers bear them indirectly in the form of higher prices.
7-Eleven Statement Regarding 2007 Credit Card Fraud
7-Eleven, Inc. has learned that federal authorities in New Jersey have indicted individuals for the theft of credit and debit card numbers in a computer hacking scheme targeting multiple retailers in a number of separate incidents over the last several years.
The company became aware in late 2007 that a security breach had occurred. The affected transactions were limited to customers’ use of certain ATMs, owned and operated by a third party, located in 7-Eleven stores over a 12-day period from October 28, 2007, through November 8, 2007. Steps were immediately taken to contain the security breach and prevent any recurrence.
Upon being notified of the breach, the card companies in accordance with their standard fraud response procedures then alerted the issuing financial institutions regarding the security breach. Each financial institution made its own decision about what appropriate actions to take, including the issuance of new cards or putting card numbers on alert for fraud. These remedial measures were taken in late 2007 and early 2008.
7-Eleven would like to thank the federal authorities for their diligence in pursuing the perpetrators of these crimes. Because this matter is pending, we are not providing further details.
About 7 Eleven, Inc.
7 Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses approximately 7,800 7-Eleven® stores in North America. Globally, 7-Eleven operates, franchises or licenses more than 36,400 stores in 15 countries. During 2008, 7-Eleven stores worldwide generated total sales of more than $53.7 billion. For 15 consecutive years 7-Eleven has been listed among Hispanic Magazine’s Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven is franchising its stores in the U.S., and is expanding through organic growth, acquisitions, and its Business Conversion Program. Find out more online at www.7-Eleven.com.
CONTACT:
Margaret Chabris
7-Eleven, Inc.
972-828-7285
margaret.chabris@7-11.com
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