Former iBill CEO gets stripped by VISA
 

http://news.yahoo.com/s/ap/20050719/...t_cards_breach

BOSTON - Visa USA Inc. is cutting ties with the payment-processing company that left 40 million credit and debit card accounts vulnerable to hackers in one of the biggest breaches of consumer data security.

CardSystems Solutions Inc. "has not corrected, and cannot at this point correct, the failure to provide proper data security for Visa accounts," Rosetta Jones, a Visa vice president, said in a statement.

She said banks that issue Visa cards would have until Oct. 31 to cease having CardSystems process payments.

Representatives for Atlanta-based CardSystems did not immediately return calls seeking comment.

Visa's statement said that while CardSystems has taken some remediating actions since the breach was disclosed, those could not overcome the fact that CardSystems had inappropriately held on to data ? purportedly for "research purposes" ? in violation of Visa's security rules.

While information relating to 40 million accounts was laid bare in the CardSystems computer break-in, credit card companies have said a much smaller amount, at least 200,000, were known to be stolen, primarily MasterCard and Visa cards.

Spokeswomen for MasterCard International Inc., American Express Co. and Discover Financial Services Inc. did not immediately say whether they would take similar steps to ban CardSystems.

Privately held CardSystems, whose CEO is a former Visa executive, has 115 employees in Atlanta and Tucson, Ariz., where its system was hacked. Backed by such investors as Principal Financial Group Inc., CardSystems has been in business for more than 15 years and processes more than $15 billion in payments annually.

Maybe i am missing something here, but what does this have to with IBLL??

i was curious about that too?

I said "Former" ... some of you people need Tala to whack you in the back of the head.

New excuses when shit fucks up:

1) Technical gliche
2) It was Ibill

hire the handicapped, they are fun to watch!

?? Where does it say in that article that someone was a "former" IBILL CEO?

So they took down another solid company. Talk about the "Midas Touch". Great management group, one cluster fuck after the next. As the saying goes, "they could fuck up a wet dream."

I just feel bad for all the workers there who are going to have to pay the price.

Can you get the official verbiage in word format for me so I might file them in the cabinet with Rouge Designer, Rouge Ex-employee, and simple human error???

couldn't have happened to a nicer guy.... :1orglaugh :1orglaugh
I wonder how he will handle himself when he has to testify in Washington...

$15 billion? Dang, that's a lot of cake. I wonder how that stacks up to some of the adult IPSPs...

Good the bastard gets what he deserves

I wonder what that schmuck puts in his resumes that keeps on getting him hired.
Human Wrecking Ball for Hire??
The King Midas of Shit- let me destroy your company today.
You think your company is worthless now?? You ain't seen nothin'
Just when you thought things couldn't gey any worse....here's John Perry.
John Perry- The Quicker Fucker Upper!!
WOW!!
Well, I hear that The corner adult book store is looking for a booth cleaner. How could he possibly fuck that up?

The title of the thread! :)

He was the CEO of iBill when Intercept bought them.

LMAO! God I love you brother! :1orglaugh :1orglaugh :1orglaugh

:1orglaugh :1orglaugh :1orglaugh

ADG Webmaster

rofl.. oh well atleast i don't lose money this time.

:1orglaugh :1orglaugh

Perry is supposedly going to appear before Congress over this. Maybe Bush will appoint him while he is there?

this is what I don't understand.. the fucker destroys two companies... yet he has made more money in the process than most people on this board will ever make.. what the fuck is wrong with corp america? just baffling! and you know that someone is going to hire his slack ass again and destroy yet another organization

If only it were two companies. I think it is 4 and counting. Before he fucked iBill up he destroyed Realestate.com which went bankrupt. Before that it was Nova. I will never forget the conference call with ibill's clients when asked if he was going to continue doing business with adult clients. His answer was "I don't think we have a choice." Absolute moron...

John Perry is the CEO of CardSystems, and ex CEO of iBill.

Hahaha thats fucking funny! :thumbsup

Too fuckin funny Howard!
He would fit right in though.

By the way...AMEX dumped them too

American Express said Tuesday that it would soon end its relationship with CardSystems Solutions, the small payment processor at the center of perhaps the credit card industry's biggest data breach.

MasterCard International, meanwhile, said that it would continue to allow its cardholders' data to be handled by CardSystems provided security was upgraded. "As of today, we are not aware of any deficiencies in its systems that are incapable of being remediated," MasterCard said in a statement.

http://news.com.com/American+Express...3-5795679.html

yup :upsidedow

Finally... Some justice...

I guess that I missed that part as well. Maybe I dont kow enough of the names.

lol thats funny