14 DAY TRIAL // A few days ago, arts and crafts retailer Michaels Stores said that it was investigating what might be a breach of its computer systems after receiving reports of fraudulent activity on payment cards used at the company’s stores.
According to Bloomberg, someone has already sued the company for failing to protect its customers’ personal information. The plaintiff is Christina Moyer of Illinois, who claims that those impacted by the breach will have to spend a lot of money and time as a result of the incident.
Class actions have already been filed against Target and Neiman Marcus, two other major retailers who have recently been targeted by cybercriminals. However, in their case, the customers waited for the companies to confirm the breaches.
In the meantime, the banking and retail sector are pointing the finger at each other for the recent incidents. Retailers say that banks should introduce PIN and chip cards, while financial institutions say that retailers should roll out better cyber security systems.