ITWire

The Commonwealth bank last night experienced a major computer outage affecting NetBank, ATMs and EFTPOS.

Leading Australian banks have blocked thousands of customer credit cards after a potential security breach was uncovered. While the banks have gone secret squirrel about which merchant or network was to blame, an eftpos terminal in a small business is understood to be at the root of the problem.

Commencing in the past few days, all stores in the Woolworths group have banned the use of debit Visa and Mastercard transactions. This will lead to an increase in transaction fraud and greater costs to the consumer.