CIO Today

CIO Today Network Sites:   Top Tech News  |   CIO Today   |   Mobile Tech Today   |   Data Storage Today
Daily Briefing for Technology's Top Decision-Makers
Welcome to the new I.T.
One that streamlines service delivery
Learn how with new I.T. from BMC

Discover it here: www.bmc.com
Wednesday, April 23rd 
24/7/365 Network Uptime!
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Trending Topics:   Security Heartbleed Big Data Cloud Computing Windows XP Data Centers OS X Mavericks
Home
Enterprise Software
Enterprise Hardware
Big Data
Network Security
Cloud Computing
CRM Systems
Data Storage
Operating Systems
Communications
CIO Issues
Mobile Tech
Chips & Processors
World Wide Web
Business Briefing
After Hours
Press Releases
 
Free Newsletters
Top CIO News
 
Mobile Tech Today
 

Big Data

Neiman Marcus Data Breach May Be 6 Months Old

Neiman Marcus Data Breach May Be 6 Months Old
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.

Your Next Generation Data Center Is Here! Vblock™ Systems: the world's most advanced converged infrastructure are built on the Cisco Unified Computing System with Intel® Xeon® processors. Vblock™ Systems deliver extraordinary time to market, ROI and TCO, and flexibility to meet your continually changing demands with 5X faster deployment, 96% less downtime, and 1/2 the cost. Click here to learn more.

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:



 Big Data
1. Hortonworks, Concurrent To Partner
2. Mobile Ad Platform From Facebook?
3. Facebook Rolls Out Friend Tracker
4. Mark Hurd's 5 Keys to Market Success
5. Data Compilers Peg Consumers




 Most Popular Articles
1. BlackBerry Drops T-Mobile After Nasty Spat
2. Cisco, IBM Launch Internet of Things Consortium
3. Salesforce CRM Gets Industry Specific for Internet of Customers
4. Intel Bets on Cloudera for Big Data Analytics
5. SAP HANA Data Warehouse App Gets Faster Analytics

Have an informed opinion on this story?
Send a Letter to the Editor.
We want to know what you think.
Send us your Feedback.

 Related Topics  Latest News & Special Reports

  Hortonworks, Concurrent To Partner
  Microsoft, BMC Targeting VMware
  AT&T in $500M Net Video Partnership
  Verizon Report Exposes Cyberthreats
  Samsung: $2.2B Too Much for Apple

 Technology Marketplace
Business Intelligence
Get real-time, cloud-based information services with Neustar.
 
Cloud Computing
Next Generation Data Center Is Here! Vblock™ Systems from VCE
 
Contact Centers
HP delivers the future of the contact center with HP Qfiniti 10.
 
Data Storage
Next Generation Data Center Is Here! Vblock™ Systems from VCE
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Enterprise Hardware
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Hardware
Protect your network with APC Smart-UPS battery backup
 
Network Security
Protect your network with APC Smart-UPS battery backup
 

Network Security Spotlight
Verizon Data Breach Report Exposes Top Threats
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.
 
White House Updating Online Privacy Policy
A new Obama administration privacy policy explains how the government will gather the user data of online visitors to WhiteHouse.gov, mobile apps and social media sites, saying much is in the public domain.
 
Navigation
CIO Today
Home/Top News | Enterprise Software | Enterprise Hardware | Big Data | Network Security | Cloud Computing | CRM Systems
Data Storage | Operating Systems | Communications | CIO Issues | Mobile Tech | Chips & Processors | World Wide Web
Business Briefing | After Hours | Press Releases
Also visit these Enterprise Technology Sites
Top Tech News | CIO Today | Mobile Tech Today | Data Storage Today

Services:
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About CIO Today Network | How To Contact Us | Article Reprints | Services for PR Pros (In partnership with NewsFactor) | Top Tech Wire | How To Advertise

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