M&M pharmacy shuts down in Tel Aviv after a security breach
A major Israeli pharmacy chain is shutting down after a serious security breach that compromised customer information and resulted in the theft of credit card information.
According to a report by Israeli media outlet The Jerusalem Report, the pharmacy in Tel-Aviv was shut down on Friday after it was found that a security company that was contracted to the pharmacy’s management company, Sibnei, had gained access to the company’s system, which is used to verify customers’ identities and payment information.
Sibneia, a subsidiary of Israeli technology firm Cargill, was contracted by M&s Pharmacy in 2010 to maintain and maintain its database of cardholders, according to the report.
However, according the report, Sipco, the company that is the company responsible for the database, was not authorized to handle this type of sensitive information.
Sibiei also has the rights to access customer accounts and data on its own.
The report said that while M&ams Pharmacy was notified of the breach in mid-May, the chain did not immediately notify its customers or notify the police until after the breach had been discovered.
The breach of the database is believed to have taken place during the summer, after the company learned that it was the first time the cardholder’s card was stolen in its history.
The security breach is the latest in a string of security breaches affecting large multinational pharmaceutical companies.
In July, a report from The Times of Israel found that Israeli pharmaceuticals giant Eli Lilly had been compromised by the same security breach reported by The Jerusalem report.
In September, Israeli drugmaker Shire Pharmaceuticals was also affected by the breach.
Earlier this month, US-based drugmaker Eli Lilly announced that it would close its Tel Aviv headquarters and lay off a large number of employees.
The company also announced that all staff at its headquarters in Tel Beni would be relocated to Israel.
In March, Israeli cosmetics brand L’Oreal announced that its Tel-Zion headquarters would close in October.
The Tel Aviv pharmacy chain was reportedly hired by the company in 2010 as part of an effort to improve its security.
In April, the head of the security department at the Tel Aviv chain, Yael Rabin, was arrested after he and two other members of his security staff were arrested by Israeli police on suspicion of stealing sensitive financial information from the security company.