Ritz Hotel Data Breach Allowed Scammers to Make Expensive Purchases With Stolen Credit Card Information

By Alicia Hope for CPO Magazine
Friday, August 28, 2020

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The Ritz hotel attack is among similar data breaches targeting reputable restaurants around the world. Hotel giants such as MGM Resorts and Marriot faced similar attacks affecting more than 140 million customers.

Ilia Kolochenko, Founder & CEO at ImmuniWeb, notes that cyberattacks directed at hotels target wealthy individuals with higher credit card limits. He adds that should such attacks succeed, they could prove to be very expensive.

“Unlike the other recently reported data breach about data stolen from Jack Daniel’s, the Ritz incident may have a much stronger consequences and extremely high losses. Guests of the luxury hotel are wealthy people, oftentimes, virtually without a limit on their credit cards. Despite multilayered defense and transaction verification mechanisms available for high net worth individuals, many of them lack technical knowledge and can be easily lured into expensive mistakes. Some VIP clients may enjoy generous protection against fraudulent credit card charges, but not all banks offer them. Moreover, there is a multitude of other avenues to profiteer from the alleged breach or extort money from the victims.” Read Full Article