Neiman Marcus reaches $1.5M settlement over 2013 breach

Neiman Marcus settled a class action lawsuit for $1.5 million that was brought after the department store suffered a data breach in 2014.

The settlement was reached with the attorney generals in 43 states and the District of Columbia where the victims resided. The point-of-sale breach took place in 2013, but was not noticed by the retailer until January 2014. About 370,000 payment cards that were used in 77 stores were compromised in the attack, which took place during the same time period as the infamous Target breach.

In addition to the monetary payment, the deal has the high-end retailer agreeing to boost its cybersecurity stance by complying with payment card industry data security standard practices, monitor its network activity, update its security software and use encryption and tokenization to protect payment card information that it holds, the Georgia Albany Herald reported.

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