American GM crop giant Monsanto has announced its data security was breached at its Precision Planting unit, exposing employees and customers to potential misuse of credit card information.
The Saint-Louis-based company stated that fewer than 1,300 farmer customers were affected by the breach, which was discovered in March. Files included customer names, addresses, tax identification numbers and financial account information.
Go deeper with GlobalData
Christy Toedebusch, a spokeswoman for Monsanto unit Climate Corp. – which manages the Precision Planting business – said:
“We believe this unauthorised access was not an attempt to steal customer information and are not aware of any misuse of the information impacted by the incident.”
The company notified affected customers and has offered them complimentary credit monitoring services for a year.
The breach comes at a moment when Monsanto is making a push into selling data services to farmers to augment its revenues from generically modified seeds and pesticides.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe services rely on commitments from farmers to share crop information, and some farm groups have expressed concerns about the security and management of data.
Monsanto, the world’s largest seed company has asked the Federal Bureau of Investigation (FBI) for help with the breach, which – the company stated – has been contained.
“The company is increasing security safeguards in an effort to prevent further breaches. While no system can be completely secure, we believe our new security protocols will provide significant protection for customers’ data,” Toedebusch added.
Related articles:
American retailers launch cyber security sharing center
MasterCard beefs up US cardholder security
LifeLock shuts down wallet app over credit card data security standards
