P.F. Cang’s, which has over 204 locations, including 3 in Canada, has confirmed that there was a data security breach resulting in credit card and debit card information being stolen from cards used at its restaurants.
To plug the whole, P.F. Chang’s has stopped accepting credit cards electronically, until it resolves the security breach. At present they are imprinting cards manually.
“This ensures our guests can still use their credit and debit cards safely in our restaurants as our investigation continues,” P.F. Chang’s Chief Executive Rick Federico said in a statement. “Because we are still in the preliminary stages of our investigation, we encourage our guests to be vigilant about checking their credit card and bank statements. Any suspected fraudulent activity should be immediately reported to their card company.”
Banks have not yet been alerted to which credit cards may have been affected. Once they are they will notify card holders and replace cards. In the interim, all cardholders who have gone to P.F. Chang’s recently should check their credit card statements for any unauthorized activity, and report any incidents to their bank immediately.
The good news is, because of both Visa, Mastercard and American Express’ zero liability policy, no cardholder will be responsible for paying for fraudulent charges on their credit card. Card credit card issuer are responsible for paying all unauthorized transactions.
Want to know how much a stolen credit card goes for these days? Apparently a stolen card can sell for anywhere from $18 to $140, and early indications are the cards have already shown up at stolen card reseller sites like Rescator.
Along with breaches at Target and TJ Maxx, this latest incident just reinforces the fact that the U.S. has to adopt chip and pin as soon as possible.