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Neiman Marcus to pay $1.5M settlement over 2013 data breach

January 09, 2019 / Corinne Ruff

Neiman Marcus will pay $1.5 million to 43 states over a 2013 data breach that exposed customer credit card data, Texas Attorney General Ken Paxton announced Tuesday.The breach, which was disclosed to the public in Jan. 2014, occurred over a three month period the year prior. Roughly 370,000 Neiman Marcus credit cards used at 77 stores nationwide were accessed by an unknown third party. At least 9,200 of them were used fraudulently, according to a statement from Paxton's office.As part of the settlement, the Dallas-based luxury department store retailer must implement new procedures to protect customers' personal information and ward off future attacks. It also must obtain an information security assessment from a third-party professional. For retailers, major data breaches can be catastrophic. When customers' most personal financial information is exposed, that has the power to erode trust with a retailer, no matter how loyal of a customer one might be.