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Visa Issues Statement on Suspended ePassporte Accounts

cant believe i couldn't find this on the main page...
here you go:

Quote:

SANTA MONICA, Calif.?Visa has issued a statement regarding the suspension late last week of the ePassporte Visa program operated through St. Kitts-Nevis-Anguilla National Bank Ltd., according to Brian Krebs, who operates the KrebsonSecurity.com blog.

Krebs reported receiving the announcement at about 10 a.m. PT. It read:

?At the request of St. Kitts-Nevis-Anguilla National Bank (SKNA), on September 2, 2010, Visa blocked network access for prepaid cards issued by SKNA and operated by ePassporte.com to address certain program deficiencies. ePassporte.com is a third-party agent that works with SKNA.

?It is important to note that impacted SKNA prepaid cardholders are still able to access their funds through SKNA or SKNA?s agent, ePassporte.com. For more information cardholders should contact SKNA or ePassporte.com.

?Visa is committed to maintaining the integrity of its global payment network and routinely conducts due diligence to ensure Visa prepaid programs adhere to the company?s stringent program requirements and controls.?

The Visa announcement seems to say that all SKNA-ePassporte Visa funds are available to account holders, and not just those in the ePassporte e-Wallet program, as was communicated by ePassporte CEO Chris Mallick late Thursday in his only statement thus far on the situation.

Mallick said at the time:

?Dear ePassporte Account Holders,

?Please be advised that, at 12:00 PM PDT today, September 2, 2010, we were notified that effective immediately, Visa International has suspended our banking partner?s (St. Kitts Nevis Anguilla National Bank) ePassporte Visa program. The ePassporte e-Wallet program continues to be up and running, except funds cannot be transferred between your Visa Account and your e-Wallet. At this time ePassporte can no longer issue Visa Cards, and the ability for our Account Holders to make point of sale purchases and withdraw funds from ATMs has also been suspended.

?At this time we do not know why this drastic action was taken by Visa. To us, it is unconscionable that such action would be taken without the opportunity for ePassporte to fully understand Visa?s reasons and to be able to take all steps necessary to keep our program running the way it has so successfully done for over 7 years. But that is what Visa has done.

?As soon as we have more information we will be in contact with you.

?In the meantime please be assured that your funds are safe.

?We are very sorry for the short notice and apologize for any inconvenience this may cause. The ePassporte team is working diligently to rectify this situation.

?We kindly ask you to bear with us while we work through this issue.

?Please feel free to contact us via the message center or at our call center, should you have any questions, comments or concerns.

?Thank You,

Christopher Mallick.?

Another possible discrepancy between the Visa and Mallick announcements has to do with which entity initiated the suspension of ePassporte Visa. Mallick said, somewhat vaguely, ??we were notified that effective immediately, Visa International has suspended our banking partner?s (St. Kitts Nevis Anguilla National Bank) ePassporte Visa program,? while Visa states, more clearly, ?At the request of St. Kitts-Nevis-Anguilla National Bank (SKNA), on September 2, 2010, Visa blocked network access for prepaid cards issued by SKNA and operated by ePassporte.com to address certain program deficiencies.?

Also, in response to a query Friday from AVN, an ePassporte spokesperson said, ?It?s an issue with Visa, not with our bank. All of our functions outside of Visa are working perfectly," which seems to conflict with Visa?s assertion today that the action was taken ?to address certain program deficiencies.?

Hopefully, for the many account holders who are having diffculty accessing funds in their ePassporte accounts, the suspension and these apparent discrepancies will be cleared up shortly.

In response to a call by AVN this morning, the ePassporte spokesperson said CEO Chris Mallick was in meetings all day long, and that a comment by the company might be made later Tuesday. Several calls to officers at the St. Kitts-Nevis-Anguilla National Bank Tuesday went directly to voicemail and messages left have yet to be returned.

Check back for updates as this story unfolds.

http://news.avn.com/articles/Visa-Is...ts-411375.html

this was posted in few threads already..

Quote:

Originally Posted by blofer80 (Post 17478935)

Old news

Do you know of any direct reply from Epassporte to the 'conflicting statements'?

Quote:

Originally Posted by Trixxxia (Post 17478951)

Do you know of any direct reply from Epassporte to the 'conflicting statements'?

There hasn't been any reply as far as I could see.

About time Chris updated people to the correct position

Quote:

Originally Posted by bizarrejan (Post 17478965)

About time Chris updated people to the correct position

I'm sure when there is something to say, it will be said.

Quote:

Originally Posted by blofer80 (Post 17478935)

Old news

:thumbsup:thumbsup

Any news is good at this point,

wishing they could fixed this problem so i we could get our money again

Quote:

“At the request of St. Kitts-Nevis-Anguilla National Bank (SKNA), on September 2, 2010, Visa blocked network access for prepaid cards issued by SKNA and operated by ePassporte.com to address certain program deficiencies. ePassporte.com is a third-party agent that works with SKNA.

this says a LOT and communicates to me... just be patient, let EPP get their shit together and the VISA program has a chance of being re-instated. for those who know Visa, if it was over, they would've said it was over and then you babies could start crying.

Kreb's Blog the only one that got Visa's "statement"? I am trying to find someone else that has received this "official statement" but no one else to be found but his blog.

Anyone else?

Quote:

Originally Posted by gumdrop (Post 17479741)

Kreb's Blog the only one that got Visa's "statement"? I am trying to find someone else that has received this "official statement" but no one else to be found but his blog.

Anyone else?

Is Kreb DEA?

Quote:

Originally Posted by gumdrop (Post 17479741)

Kreb's Blog the only one that got Visa's "statement"? I am trying to find someone else that has received this "official statement" but no one else to be found but his blog.

Anyone else?

There's been a few on here claimed to have received the same response from Visa.

I got the response from visa aswell - it's real.

Quote:

Originally Posted by mn (Post 17479889)

I got the response from visa aswell - it's real.

And who are you?

Quote:

Originally Posted by gumdrop (Post 17479896)

And who are you?

your mom

a few people did over at the askdamagex board.

September 8, 2010 - Linda McGlasson, Managing Editor

At the beginning of the holiday weekend in the United States, Visa suspended the services of a third-party agent, ePassporte.com.

"At the request of St. Kitts-Nevis-Anguilla National Bank (SKNA)," Visa said in a Sept. 7 statement, "Visa blocked network access for prepaid cards issued by SKNA and operated by ePassporte.com to address certain program deficiencies."

Visa says prepaid cardholders are still able to access their funds through SKNA or ePassporte.com. "Visa is committed to maintaining the integrity of its global payment network and routinely conducts due diligence to ensure Visa prepaid programs adhere to the company's stringent program requirements and controls."

ePassporte (www.epassporte.com) offers two consumer services: a physical debit card that can be used at ATMs and retail shops, as well as an internet payment facility. Businesses use ePassporte on their online retail sites, where they accept a Visa-branded card supplied by ePassporte.

Visa hasn't said for how long the suspension will be, but Debra Geister, senior director of AML and compliance services at LexisNexis' risk solutions, says there is buzz on the blogs "that this action is based on the recently released credit card guidelines."

Gwenn Bezard, co-founder and research director at Aite Group, says he's not so sure that this move by Visa is necessarily related to the new pre-paid card guidelines. "I don't see them related," Bezard says. "Visa does take action against its members at different times, imposing fines or even shutting various members down," he says.

Click to Get Updates on the Latest Information Security News
Institutions should be on top of this issue and carefully review their programs, says Geister. Any prepaid programs that a financial institution is underwriting (especially in light of the new CARD ACT regulation) should be viewed as an extension of their AML program. Institutions should make sure they understand the programs, systems and detection capabilities that are in place in any third-party programs such as ePassporte. "Making sure that the financial institution has review of programs, identified risks and performed audits of those programs is a good idea in these situations," she says.

If a financial institution or merchants were to receive a transaction through ePassporte.com or the ePassporte Visa, given Visa's statement, they would be blocked through Visa, Geister says. The purchaser should be directed back to SKNA or ePassporte to get their funds back, "But it sounds like these cards will not be accepted on the Visa network."

http://www.bankinfosecurity.com/arti...hp?art_id=2900

Thank-you all for clearing this up.

Why should this Krebs guy have a monopoly on a press announcement? You think VISA exclusively contacts this guy and nobody else? It's all bogus. Just some good marketing for him.