From: Dissent (Dissentpogowasright.org)
Date: Wed Feb 07 2007 - 12:32:33 CST

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Thanks to list member baforestalearthlink.net who also submitted a
link to this press release.

ttp://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/02-07-2007/0004522563&EDATE=

A just-completed survey by America's Community Bankers reveals that
data security continues to be a significant issue for community banks
and their customers, and that card network and congressional action
is necessary to address this far-reaching problem.

[...]

The following are some of the highlights from the ACB member survey
conducted between January 26 and February 5.

     -- Of the 181 respondents, more than 96 percent said they issued
debit cards, while 19 percent said they issued credit cards.
     -- In the past 24 months, 70 percent of respondents said their
bank had to reissue cards due to data breaches three times or more
and 39% said their bank had to reissue cards more than five times.
     -- Eighty-nine percent of the debit card issuers and 53 percent
of the credit card issuers indicated that their customers had been
affected by a data breach.
     -- Of those affected by a data breach, 92 percent had reissued
cards to customers.

While not specifically asked in the survey, cumulative data reflect
that the average cost for reissuing each debit card is approximately
$10-20 per card. Therefore, a bank reissuing 10,000 cards three times
at an average cost of $15 per card would incur a cost of $450,000.

[...]

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