Kathmandu customers possibly detected by a data violation

Post by Sameena Farooq | Mar 15, 2019

Data violation crime lead to customers personal details exposed and huge financial loss in the stock market.

On Wednesday, it was revealed, in a Kathmandu website, an unidentified third-party has violated the agreement and has accessed all the personal information of customers and payment details. 

The business was sent notice and give alert to the violation which took place between January 8 and February 12, 2019, by using bank fraud monitoring.

A spokesperson of Kathmandu said in a statement that the business underwent into investigation and taking out records on how many customers are affected by data violation but it remains an ongoing process until now. 

 

Kathmandu chief executive Xavier Simonet said, “Whilst the independent forensic investigation is ongoing, we are notifying customers and relevant authorities as soon as practicable”.

He further added, “As a company, Kathmandu takes the privacy of customer data extremely seriously and we unreservedly apologise to any customers who may have been impacted.

The business is now getting assisted by external IT and cybersecurity experts and they are finding out the circumstances and the customers who got affected.

The incident has a huge financial impact, the data is unclear but the dual-listed retailer has seen a stock price fall to $2.31 per share after the verdict, though bounced to $2.37 by the end of the sales.