Luxury Department Stores Hit with Data Breach
If you have shopped at a Saks Fifth Avenue, Saks Off 5th or Lord & Taylor recently, you may want to carefully examine your credit card statements for the next few months.
Toronto-based Hudson’s Bay Co., the parent company of these luxury stores, announced Sunday that its store payment card system had been breached and customer payment data may have been compromised. While a cybersecurity firm told Reuters that “millions of cards” could have been compromised, that organization said there is no way to know for sure, and Hudson’s Bay has not released details about the extent of the breach.
The online stores and other brands owned by Hudson’s Bay, including Home Outfitters, do not appear to have been affected by the breach.
The company has offered free credit monitoring and identity theft protection services to affected customers.
Since the breach, Hudson Bay shares have fallen 6.2% in early trading on Monday, according to 4-Traders.
If you suspect your payment card details could have been compromised, security experts say there are a number of steps you can take. First, report any fraudulent activity to your card issuer, and they will remove the charges. Secondly, report your card stolen and ask that your card company send you a new card.
It may also be wise to request a copy of your credit report to check for accuracy. If someone has fraudulently obtained your Social Security number and other personal identification information, they could open accounts in your name. By monitoring your credit report, you will make sure this has not happened to you.