Marriott Starwood Assessing Impact of 4-Year Long Data Breach

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Marriott International said on Friday hackers stole about 500 million records from its Starwood Hotels reservation system in an attack that began four years ago, exposing personal data of customers including some payment card numbers.

Shares of the company were down 4 percent at $117 in premarket trading.
In 2014, Hack began to purchase brands such as Sheraton, Ritz Carlton and Autograph Collection to create the world’s largest hotel operator in 2014, without offering to buy Starwood for $ 12.2 billion in November 2015. The company closed the Starwood agreement in September 2016.

The Marriott said it could include passport details, phone numbers, and e-mail addresses, as 327 million guests said. Some may include credit card information.

Marriott said the internal security vehicle learned a breach first after sending an alert on 8 September.

Ik We opened an investigation into the Marriott data breach. In addition, in accordance with the New York law, Marriott had to notify our office after discovery of the breach; They haven’t done that yet, ”said Amy Spitalnick, New York Attorney-General, Communications Director and Senior Policy Advisor.

The Marriott will inform affected guests about the violations that began on Friday and that it reported to law enforcement and regulatory authorities.

In recent years many companies had to cut data. This violation can cost hundreds of millions of dollars of legal costs.
Yahoo said last year all of its three billion accounts were hacked in the 2013 data theft. The lawyers have asked Verizon Communications Inc., the new owner of the violation.

With the acquisition of Yahoo after Verizon’s acquisition, Altaba Inc. announced that it would pay a total of $ 47 million in litigation to settle the relevant cases.

Attack news highlights the need for companies to pay much attention to cyber security when buying.

Güvenlik Understanding an investment’s cyber-security stance is critical to assessing the value of the investment and taking into account the reputable, financial and jurisdiction of the company, ini says James Sunder, vice president of the cyber security company BitSight.

The Marriott said on Friday that it was too early to predict the financial impact of the breach and would not affect its long-term financial health. The hotel chain says it works with insurance companies to assess the scope.

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