Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Vblock™ Systems:
Advanced converged infrastructure
increases productivity & lowers costs.

www.vce.com
Personal Tech
24/7/365 Network Uptime
Average Rating:
Rate this article:  
Neiman Marcus Data Breach May Be 6 Months Old
Neiman Marcus Data Breach May Be 6 Months Old

By Jennifer LeClaire
January 17, 2014 12:11PM

    Bookmark and Share
The loss of sensitive customer data like credit card numbers can be extremely costly for businesses as Neiman Marcus and others are experiencing. The average cost of a data breach in 2012 was $188 per record in the U.S., including the cost of fines, legal damages and loss of business, said Maxim Weinstein, a security advisor at Sophos.
 


Even as security analysts are wading through the issues with the Target breach, new information is emerging about Neiman Marcus’ woes. According to the New York Times, hackers infiltrated the luxury retailing giant’s computer network as far back as July.

Neiman Marcus last week disclosed hackers may have stolen credit and debit card numbers of its customers. The retailer has made it clear that it deeply regrets and is very sorry that “some of our customers' payment cards were used fraudulently after making purchases at our stores” and assures the public it has taken steps to notify affected customers if it has their contact information.

“As best we know today, Social Security numbers and birth dates were not compromised,” Karen Katz, president and CEO of Neiman Marcus Group, wrote in a blog post Thursday. “Customers that shopped online do not appear to have been impacted by the criminal cyber-security intrusion. Your PIN was never at risk because we do not use PIN pads in our stores.”

Neiman Marcus Still Investigating

Katz went on to say that the retailer has taken and is continuing to take a “number of steps” to contain the situation and to help prevent an unlawful intrusion like this from happening again. By that she means the company is working with federal law enforcement, disabling the malware it has found, enhancing its security tools, and assessing and reinforcing its related payment card systems in light of this new threat.

“In mid-December, we were informed of potentially unauthorized payment card activity that occurred following customer purchases at our stores. We quickly began our investigation and hired a forensic investigator,” Katz said. “Our forensic investigator discovered evidence on January 1 that a criminal cyber-security intrusion had occurred. The forensic and criminal investigations continue.”

Katz said customers that are concerned about fraudulent activity can take several steps, including checking their payment card statements and contacting their local stores or the company’s credit card division to see if fraudulent activity appears on their Neiman Marcus cards.

Extremely Costly Breaches

We caught up with Maxim Weinstein, a security advisor at Sophos, to get his take on the fallout. He told us the loss of sensitive customer data like credit card numbers can be extremely costly for businesses as Neiman Marcus and others are experiencing.

“The average cost of a data breach in 2012 was $188 per record in the U.S., including the cost of fines, legal damages and loss of business. A recent study by the Ponemon Institute found that 51 percent of small and mid-sized businesses experienced data loss in the past year,” he said.

“Sophos recommends businesses of all sizes have a comprehensive data loss prevention plan in place. Likewise, consumers worried about fraud should check for suspicious activity,” he added.
 

Tell Us What You Think
Comment:

Name:



APC has an established a reputation for solid products that virtually pay for themselves upon installation. Who has time to spend worrying about system downtime? APC makes it easy for you to focus on business growth instead of business downtime with reliable data center systems and IT solutions. Learn more here.


 Personal Tech
1.   NYPD Twitter Campaign Backfires
2.   Samsung Gear Fit Geared for Exercise
3.   Google Sharpens Contact Lens Vision
4.   AT&T in $500M Net Video Partnership
5.   High Court To Hear Aereo Dispute


advertisement
BlackBerry Drops T-Mobile After Spat
Moving on to other carriers after snub.
Average Rating:
Is Zuckerberg Nuts To Buy Oculus VR?
$2 billion deal for unproven company.
Average Rating:
NYPD Twitter Campaign Backfires
Case of 'be careful what you wish for.'
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
What Verizon's Data Breach Report Can Teach Enterprises
It’s probably not a jaw-dropper, but cyberespionage is officially on the rise. And the use of stolen or misused credentials is still the leading way the bad guys gain access to corporate information.
 
Top Cyberthreats Exposed by Verizon Report
Beyond Heartbleed, there are cyberthreats vying to take down enterprise networks, corrupt smartphones, and wreak havoc on businesses. Verizon is exposing these threats in a new report.
 
Where Do Web Sites Stand, Post-Heartbleed?
A security firm says the vast majority of Web sites have patched themselves to protect against the Heartbleed bug, but now there are questions raised on the reliability of open-source programs.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | Small Business | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.