#1242908: State attorneys general announced a $1.5 million settlement with Neiman Marcus

Description: Tens of state attorneys general announced a $1.5 million settlement with The Neiman Marcus Group over a 2013 data breach.

Tens of attorneys general announced this week a $1.5 million settlement with The Neiman Marcus Group LLC over a data breach suffered by the company in 2013 and disclosed earlier 2014.

43 states and the District of Columbia were involved in the settlement.

Early 2014, the high-end retailer confirmed a data breach, the incident happened a few weeks after the clamorous data breach at US giant retailer Target. At the time, Neiman Marcus had 79 stores and reported total sales of $1.1 billion in the Q4 2013.

The data breach was first reported by cybersecurity expert Brian Krebs, the specialist confirmed a surge in fraudulent credit and debit charges on cards that had been used at Neiman Marcus stores.

The company notified the incident to its customers that hackers breached servers of the company and accessed the payment information of those who purchased at one of its 77 stores.

In just three months in 2013, hackers stole about 370,000 credit cards and at least 9,200 of them were involved in fraudulent activities.

“Under terms of the settlement announced Tuesday, Neiman Marcus agrees to maintain reasonable procedures to protect customers’ personal data and obtain an information security assessment and report from a third-party professional.” reported the Associated Press.
More info: https://securityaffairs.co/wordpress/79680/laws-and-regulations/neiman-marcus-settlement.html

Date added Jan. 10, 2019, 4:45 a.m.
Source SecurityAffairs
Subjects
  • Credit Card Fraud / Card-not-present / Card not present Fraud (see also Industry- Banking folders)
  • Latest Global Security News
  • Law / Legal / Corporate Counsel- various
  • Neiman Marcus
  • News USA
Country USA