Paysafe Group reassures customers after personal data breaches

Paysafe Group, the payment provider formerly known as Optimal Payments, has moved to reassure customers that historical data breaches have not resulted in passwords, card or bank account information being made public.

The company said Monday that while some data has been made public, this is not likely to result in customer accounts being accessed illegally, and security controls since the breaches have made further hacks unlikely.

The supplier engaged a major accounting firm as part of its investigation into the data breaches, after confirming concerns about the data breach last month.

The historical data breached concerned its recently-acquired Skrill business, then named Moneybookers, which saw data relating to 4.2m customer accounts stolen in 2009 following a cyber attack, as well as data from 3.6m NETELLER accounts, which was illegally seized following a similar attack in 2010.

In each case the breaches were reported to the appropriate authorities, with third-party, independent forensic reports undertaken by major accounting firms. The recommendations from these reports were adopted by the two companies, with NETELLER aiming to ensure its controls exceeded the industry standards required for payment processors.

Of the 7.8m accounts affected by the two security breaches, less than 2 per cent were active in the six months to November 1st, 2015, Paysafe said. The date stolen did not relate to passwords, card data or bank account information.

The company said that the data was gathered from the 2009 and 2010 cyber attacks, and that it was not aware of any similar breaches since that time. It remains confident that this data will not allow any existing Skrill or NETELLER customer accounts to be accessed.

“The Group’s executive management team, IT leadership and security protocols and standards have changed considerably since the breaches more than five years ago,” Paysafe Group said.

“The significant investment made to cyber security in recent years will continue into the future as Paysafe works to ensure it has the appropriate systems in place to defend against cyber security threats.”

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