Payment card data breaches can obviously be some of the most detrimental incidents, being that they can easily result in great losses, fraud, or identity theft. Unfortunately, these types of breaches continue to happen quite frequently, as is displayed by several recent events including Kmart and Select Restaurants. With the advanced tactics and methods used by hackers these days, even a small vulnerability can lead to disastrous consequences. In yet another incident, Gamestop has announced that they have suffered a payment card data breach.
From Suspicion to Confirmation
Back in April, the popular video game retailer had announced that they were investigating a potential breach of their website. Unfortunately, they confirmed last week that there was, in fact, a data breach affecting card data and other information. Gamestop has warned that payment cards used on the website between August 10, 2016, and February 9, 2017, were compromised by cyber criminals. The company has not released any information as far as to how many customers had been affected by the breach, but it had apparently included debit/credit card numbers, card verification codes, names, and addresses. According to Gamestop, it appears they had discovered the breach after being notified that payment data used on gamestop.com was posted for sale on a website. In a statement to Kotaku, the company had said, “GameStop identified and addressed a potential security incident that was related to transactions made on GameStop’s website during a specific period of time. GameStop mailed notification letters to customers who made purchases during that time frame advising them of the incident and providing information on steps they can take.”
There does not seem to be much further information regarding the incident aside from the above. Gamestop has not given any reports in regard to how the breach occurred, how they addressed it, and whether they have traced the perpetrator.
Gamestop Being Hit While They’re Down
Of course, there is no good time for a data breach, but this incident comes at an extremely bad time for Gamestop. They have been already struggling against the increased frequency of digital downloads, which has impacted their sales severely. In fact, they had announced that they would be closing 150 stores because of sustained drops in sales.
Mitigating Data Breaches with Cyber Security Monitoring
Cyber attacks and breaches are one of the largest risks that organizations face today. In fact, a single breach or attack can potentially cause an organization to tank if it is severe enough. Many data breaches and cyber attacks are able to cause extensive damage or exfiltrate huge amounts of data simply because they are not detected right away. The above incident is an obvious example of this, is that had it continued for several months. This is why cyber security monitoring is such a vital tool for organizations to employ. Proper monitoring can allow an organization to immediately detect unauthorized access or anomalies. Once they are notified of these, they can rapidly investigate and handle if the alerts turn out to be malicious. Having this type of constant awareness of networks and systems is vital, as it puts the organization in a position of being able to expel or prevent a threat before it really has a chance to do much. Massive Alliance offers comprehensive cyber security monitoring services that can help an organization to repel cyber attacks.