Malware Attack On National Stores Inc. Exposed Payment Data

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CyberWisdom Safe Harbor Commentary:
Today I came across this story from pymnts.com that reveals things we don’t talk about but
After malware attacks allowed “unauthorized parties” to access customer credit card information, low-priced retailer National Stores was trying to prevent fraud and increase the security of its point-of-sale (POS) system. announcement.
“We have worked closely with the FBI, cybersecurity experts and payment card brands to curb this incident and to protect our customers’ payment cards,” said Michael Falas, the country’s chief executive, last Monday (January 22 ) Announced. “Malicious software has been removed from our system and no customer is responsible for any fraudulent charges on their account.We are strengthening the security of the point-of-sale system to prevent this from happening in the future.”
According to a national store survey, the company believes customers who use credit cards at their locations from July 16 to December 11 may be suspected of breaking the rules. Affected information may include name, payment card number, expiration date, and security code.
Following the violation, the company hired Digital Network Security to assist in the investigation, saying it “will continue to provide any necessary cooperation to ensure the responsibility of malicious actors.”
Equifax, the credit scoring company that posted cybersecurity incidents, could affect about 143 million consumers in the United States and about 209,000 credit card numbers. According to Equifax, unauthorized visits occurred between mid-May 2017 and July 2017.
Five years after the nationwide store incident, there has been a massive irregularity in Target, with 40 million cards stolen, 70 million customer records stolen and 1 to 3 million cards successfully sold and used for fraudulent transactions. A total of $ 200 million has been spent on cards reissued by banks and credit unions, with an estimated $ 57.3 million flowing directly into the pockets of criminals trying to lift them.
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Following a malware attack that allowed “unauthorized parties” to access customer credit card information, off-price retailer National Stores is seeking to prevent fraudulent activity and improve the security of its point-of-sale (POS) systems, the company said in an announcement. “We have been working closely with the FBI, cybersecurity experts and payment card brands to contain the incident and protect our customers’ payment cards,” National Stores Chief Executive Officer Michael Fallas said an announcement last Monday (Jan. 22). “The malware has been removed from our system, and no customers will be responsible for any fraudulent charges to their accounts. We are in the process of strengthening the security of our point-of-sale systems to prevent this from happening in the future.” Based on National Stores’ investigation, the company believes customers who used their credit cards at its locations between July 16 and Dec. 11 may be involved in the breach. Affected information might have included names, payment card numbers, expiration dates and security codes. Following the breach, the company hired digital cybersecurity firms to assist with its investigation, stating it “will continue to provide whatever cooperation is necessary to hold the malicious actors accountable.” News of the National Stores’ breach comes less than… Engaging post, Read More…
thumbnail courtesy of pymnts.com
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