Skip to content

Security of 40 million Target credit cards compromised for holidays

By Catholic Online (NEWS CONSORTIUM)
12/20/2013 (4 years ago)
Catholic Online (www.catholic.org)

Security breach leaves consumers in the cold at height of holiday buying season

For target stores, the nation's second largest retailer, the news couldn't have come at a worse time. Security researcher Brian Krebs says that Target suffered a data breach around the time of Black Friday last month "potentially involving millions of customer credit and debit card records." As many as 40 million credit cards may be affected, very bad news at the height of the holiday shopping season.

Many major credit card companies and banks say they are now monitoring the situation, and encouraged customers to alert them to any possible fraudulent charges.

Many major credit card companies and banks say they are now monitoring the situation, and encouraged customers to alert them to any possible fraudulent charges.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (www.catholic.org)
12/20/2013 (4 years ago)

Published in Business & Economics

Keywords: Target, credit cards, hacking, holiday season


LOS ANGELES, CA (Catholic Online) - Target officials say the cards, used at the brick-and-mortar stores between November 27 and December 15, 2013, may have been impacted.

The Secret Service, charged with safeguarding the nation's financial infrastructure and payment systems, say they are investigating the breach.

The retailer didn't share as to how their systems were hacked. Judging by the breadth and the kind of information the hackers got, experts say the villains targeted the retailer's point-of-sale system.

This presupposes that the hackers either slipped malware into the terminals where customers swipe their credit cards -  or that they collected customer data while it was on route from Target to its credit card processors.

Authorities and financial institutions were notified immediately after it was made aware of the unauthorized access. A forensics team has been hired to investigate how the breach may have happened.

According to Target spokeswoman Molly Snyder, the issue that allowed the breach has been identified and resolved. "Target's first priority is preserving the trust of our guests and we have moved swiftly to address this issue, so guests can shop with confidence," CEO Gregg Steinhafel said in a statement. "We regret any inconvenience this may cause."

According to Krebs, the thieves reportedly gained access to data on the magnetic strips of shoppers' cards, potentially allowing them to produce counterfeit versions. The thieves could also potentially withdraw cash from ATMs using counterfeit debit cards if they were able to intercept PIN data from Target.

Many major credit card companies and banks say they are now monitoring the situation, and encouraged customers to alert them to any possible fraudulent charges.

The good news? In data breach situations, customers aren't on the hook for any fraudulent charges. Someone further up the chain -- the card issuer, or sometimes the merchant -- is responsible for those costs.

---


'Help give every student and teacher Free resources for a world-class moral Catholic education'


Copyright 2018 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for JANUARY 2018
Religious Minorities in Asia.
That Christians, and other religious minorities in Asian countries, may be able to practise their faith in full freedom.


Comments


More Business & Economics

Jobless claims historic low! - Why workers are getting raises this year, thanks to President Trump Watch

Image of Workers are finally being dealt back into the American Dream, thanks in part to President Trump's economic policies.

Say what you will about President Trump, but American workers are starting to "win" under his administration. Jobless claims have reached a ... continue reading


Retailers are feeling great again, but how about all those tired workers? Watch

Image of Amazon workers are being replaced by robots, but they aren't being laid off either. The growth of online retail means they can fill other roles, as the workload increases.

Early reports from the retail sector show that sales between November 1 and Christmas Eve were up 4.9 percent over last year. Workers ... continue reading


President Trump signs tax reform bill, as nation looks toward uncertain 2018 Watch

Image of President Trump signed the tax cut bill early as a Christmas present for the American people.

President Trump has signed his tax reform bill, aimed at providing tax cuts for most Americans as well as simulating job growth. President ... continue reading


Is now the time to sell? Experts say Wall Street is on a bubble, here's why Watch

Image of Stocks appear to be on a bubble according to many experts.

Is now the time to sell on Wall Street? Stocks are on a bubble, according to multiple analysis and expert opinions. Fundamental market ... continue reading


Forget Winter, Recession is Coming Watch

Image of Major indicators reveal recession is coming.

The economy is about to go into recession according to several Wall Street firms. They are warning investors to prepare for an end to the ... continue reading


Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Information
Learn about Catholic world

Catholic Online
Inform - Inspire - Ignite

Catholic Online Saints
Your saints explained

Catholic Online Prayers
Prayers for every need

Catholic Online Bible
Complete bible online

Catholic Online News
Your news Catholic eye

Daily Reading
Today's bible reading

Lent / Easter
Death & resurrection of Jesus

Advent / Christmas
Birth of Jesus

Rest of Catholic Online
All Catholic world we offer

Services
Products and services we offer

Catholic Online Shopping
Catholic medals, gifts & books

The California Network
Inspiring streaming service

Advertise on Catholic Online
Your ads on catholic.org

Catholic Online Email
Email with Catholic feel

Catholic Online Singles
Safe, secure Catholic dating

The California Studios
World-class post production service

Education
Learn the Catholic way

Catholic Online School
Free Catholic education for all

Student Classes
K-12 & Adult Education Classes

School Teachers
Teacher lesson plans & resources

Support Free Education
Tax deductible support Free education

Socials
Connect with us online

Catholic Online on Facebook
Catholic social network

Catholic Online on Twitter
Catholic Tweets

Catholic Online on YouTube
Enjoy our videos

Catholic Online on Instagram
Shared Catholic moments

Catholic Online on Pinterest
Catholic ideas style inspiration

Catholic Online Logo

Copyright 2018 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2018 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.