Slim CD data breach affects 1.7 million credit card owners

Payment gateway provider has revealed a massive Slim CD data breach affecting nearly 1.7 million credit card owners, compromising sensitive personal and financial information.

According to Slim CD, hackers accessed the company’s network for almost a year, from August 2023 to June 2024, raising serious concerns over the security of payment processing services.

What do we know about Slim CD data breach?

The Slim CD data breach was detected on June 15, 2024, but investigations showed that unauthorized access had been in place since August 17, 2023.

Slim CD disclosed that the attackers gained access to credit card details for two days, specifically on June 14 and 15, 2024.

During this period, the threat actor could view or potentially extract credit card data, including:

• Full names
• Physical addresses
• Credit card numbers
• Expiration dates

Despite the absence of CVV codes, the Slim CD data breach still poses a risk of credit card fraud, prompting the company to urge affected individuals to remain alert for any signs of fraudulent activity.

The Slim CD data breach didn’t expose CVV codes but still poses a risk of fraud (Image credit) How was it resolved?

Following the Slim CD data breach, the company took several measures to strengthen its security and mitigate the risk of future incidents. After detecting suspicious activity on June 15, 2024, Slim CD immediately launched an internal investigation to assess the scope of the breach and determine how long hackers had access to their systems.

Data breach costs are rising, but AI can fix the problem

The company claims it has since enhanced its cybersecurity protocols, implementing stricter security measures across its payment processing network. These changes aim to prevent similar breaches in the future, though specific details of the security improvements were not publicly disclosed.

While Slim CD has advised affected individuals to monitor their accounts for signs of fraud, the company did not offer free identity theft protection services, leaving impacted customers to manage the fallout from the breach independently.

Is Slim CD safe now?

While Slim CD has taken steps to improve its security following the data breach, determining whether it is completely secure to use now depends on several factors. The company has stated that it enhanced its cybersecurity protocols to prevent similar incidents in the future, but they have not provided specific details about these measures.

In general, when assessing whether a service is secure after a breach, it’s important to consider:

• Transparency: Has the company provided clear information about the breach and the steps they’ve taken to address the vulnerabilities?
• Security enhancements: Are there visible or announced improvements, such as encryption, multi-factor authentication, or other advanced security measures?
• Track record: Have they experienced multiple breaches, or was this an isolated incident?
• Industry practices: Are their security measures now on par with industry standards for payment gateways?

Without more detailed information on Slim CD’s updated security protocols, it’s difficult to provide a definitive answer.

The company has not disclosed specific details about its security improvements (Image credit) What is a Slim CD payment gateway?

Slim CD is a payment gateway provider that offers businesses a platform to process electronic and card payments through various methods, including web-based terminals, mobile apps, and desktop applications.

The company provides the infrastructure that enables businesses to accept payments securely, whether it’s credit card, debit card, or other forms of electronic payment, often integrating with point-of-sale (POS) systems.

It’s mostly designed for a wide range of industries, including retail, hospitality, and restaurants, but is usually behind the scenes, meaning end customers may not directly interact with Slim CD, but rather the business using its platform.

Featured image credit: Slim CD