Dive Brief:
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Six employees at Saks Fifth Avenue in New York have been charged in a scam involving theft of customer credit cards from the store’s computers.
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Surveillance footage and other evidence are detailed in criminal complaints involving $400,000 worth of goods paid for with stolen credit card information and fraudulently returned or kept at one employee’s home.
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Meanwhile, Saks Inc. is a major contributor to parent Hudson’s Bay’s healthy Q2 sales, which rose 87%, including an increase of 2.2% at Saks Fifth Avenue stores and an increase of 14.9% at its discount OFF 5th stores.
Dive Insight:
The fraud detailed in a criminal complaint against six Saks Fifth Avenue employees is a bit old-fashioned compared to the cybertheft at Home Depot disclosed recently and at Target and other retailers late last year. While not exactly good news, the alleged theft is contained and is easier to prosecute compared to the massive and unwieldy cybercrimes.