PF Chang's issues security update

P.F. Chang's has released a statement following news of a data breach in early June. While the company has not identified the scope or cause of the breach, it has attributed the attack to the work of an organized criminal operation.

On Tuesday, June 10, P.F. Chang's learned of a security compromise involving credit and debit card information reportedly stolen from some of its restaurants. Following an investigation by the U.S. Secret Service and third-party forensics experts, the company has confirmed that data had been compromised.

The investigation is still in the preliminary stages, according to the company. A time frame for the infiltration has not been determined and information insights have been slow to come because of the precision of the breach.

"The security compromise was part of a highly sophisticated criminal operation that is being investigated by both the United States Secret Service and a team of third-party forensic experts," said CEO Rick Frederico. "An investigation of this nature takes time, and while we would like to be in a position to provide further information, we can only share details that have been confirmed by the investigators."

It's not clear how many of P.F. Chang's customers were affected, but there are signs that some cards were compromised as early as November 2013, according to Bank Info Security.

Security breaches at businesses such as P.F. Chang's continue, even as retailers and restaurant chains take action to implement tighter security measures. Walmart and Sam's Club (NYSE:WMT) were early adopters of new chip-and-PIN scanners in stores and Target (NYSE:TGT) has accelerated its rollout of EMV following a data breach that compromised the credit security and personal information of more than 70 million shoppers.

P.F. Chang's immediately began upgrading its POS system and customer credit and debit cards are being manually swiped until the transition is complete.

Still, retailers are woefully unprepared for future breaches, according to a recent report: 72 percent of IT executives say their companies suffered a data breach in the past 12 months, while only 51 percent report securing confidential data is a high priority, according to a new Ponemon Institute report commissioned by Informatica.

For more:
-See this P.F. Changes statement

Related stories:
Retailers still unprepared for security breaches
Domino's Pizza data hackers demand ransom
How to prevent Target-like data breaches
Will PF Chang's data breach speed EMV?
Shoppers stop buying online after breaches

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