American Express recently rolled out an advisory, which alerted its customers about a concerning third-party data breach that directly affects such parties.
Based on reports, the breach occurred at a merchant processor, not directly within American Express’s systems. However, the incident still impacted customers since the compromised processor is the one that processes the data related to American Express.
Hence, the company advised customers in Massachusetts, warning them that the issue could compromise their credit card information.
The latest malicious incident that involved American Express resulted in data exposure.
According to investigations, the breach on American Express enabled the hackers to access sensitive details such as card numbers, names, and expiration dates. Unfortunately, the exact number of affected customers, the identity of the breached merchant processor, and the timing of the attack remain a mystery.
Various researchers asked for more details about the breach, but American Express refused to disclose information about their business relationships and partners. However, the company assured everyone they had already informed the regulatory authorities and affected customers of the hack.
Furthermore, the company emphasised that it will not hold affected customers responsible for unauthorised charges in the event of fraudulent activity. On the other hand, they advise their customers to diligently monitor their account statements for the next one to two years and immediately report any suspicious activity.
They also recommended that customers enable the instant notification feature through their mobile app to enhance security measures. This feature enables customers to receive alerts about potential fraud and notifications for every transaction they accomplish with their card.
Lastly, customers whose card information was compromised by the breach were also advised to request a new card number. This precautionary measure helps mitigate risks, as stolen credit card information is often sold on black markets and dark web forums.
In summary, the breach did not directly compromise American Express’s systems. Still, it did expose sensitive information of some of its cardholders. The company is taking necessary steps to resolve the situation, including notifying relevant authorities and impacted customers and offering guidance on monitoring and enhancing account security.
