1.16 Million Payment Cards Information Stolen From Staples, Inc. (SPLS)

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Staples, Inc. (NASDAQ:SPLS) disclosed information that as many as 1.16 million payment cards were stolen in a Data Security Incident.

Investigation

In a statement recently, the company has updated on its investigation into the data security incident that it previously revealed. Earlier, it termed the incident as a small percentage of its point-of-sale systems or POS.

Staples said that its data security experts were able to detect malware deployed by the criminals at some of its POS. It said that as many as 115 POS of its over 1,400 retail stores in the United States were affected by the malware. On detecting, the company has taken an action to remove the malware during the middle of September and further improve its security.

The company indicated that it retained data security experts from outside to inquire into the incident and was working closely with the law enforcement agencies, as well as, payment card companies on the issue. Its investigation found that the malware would have gained entry to access some of the date like payment card numbers, cardholder names, card verification codes and expiration dates.

Purchase Period

Staples indicated that at 113 stores, the malware would have gained entry to access data on purchases made between August 10 and September 16. In the other two stores, malware would have gained entry to access data on purchases between July 20 and September 16.

The company said that it was offering services of free identity protection. It included credit monitoring, free credit report, identity theft insurance to its customers, who made purchases during the period at any of the affected stores. In all, it estimates information relating to 1.16 million payment cards could have been stolen.

Staples said that it was firm on a commitment to protecting customer data. It said that it initiated steps to improve the security of its POS, including the new encryption tools use.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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