The data breach at Target Corp. that exposed millions of credit card numbers has focused attention on the patchwork of state consumer notification laws and renewed a push for a single national standard.
Target Corp says the massive data breach over the holidays helped push its profit down 46 percent. The discount retailer said Wednesday that sales fell 5.3 percent as the breach scared off customers.
Objections to a bill that would expand the victim-notification process after a retail or wholesale business data breach were strident and frequent during a hearing Tuesday afternoon of the Minnesota House commerce committee.
A data breach at hometown retailing giant Target is prompting a look at Minnesota data protection laws. The theft late last year of financial and personal data from millions of customers is a driving force behind a bill that a Minnesota House commerce committee was discussing Tuesday.
Target now faces its first Minnesota lawsuit following the massive data breach that’s believed to have compromised up to 110 million customers’ information. Five rural banks in southern Minnesota have reportedly joined together to file a lawsuit against the retailer.
The massive Target data breach is having a large impact on not just the company’s customers, but is also costing Minnesota’s credit unions hundreds of thousands of dollars. The Minnesota Credit Union Network says $750,000 has been lost.
Target’s computer security staff raised concerns about its payment-card system at least two months before the massive data breach.
The cyber reporter who first broke the news about Target’s massive data breach says he now knows how the hackers got in.
The investigation into the Target data breach is focusing on a Pennsylvania refrigeration company that had a contract with Target and billed the retailer electronically.
The hackers who stole millions of credit and debit card numbers from Target may have used a Pittsburgh-area heating and refrigeration business as the back door to get in. Fazio Mechanical Services Inc., a contractor that does business with Target, issued a statement Thursday saying it was the victim of a “sophisticated cyberattack operation,” just like Target.
How did hackers access Target’s Network? Click the link to find out.
An executive of Target Corp. says the retailer has taken actions to shore up security following the massive breach of millions of consumers’ data during the holiday season. He urged banks, retailers and the government to work together to protect consumers.
Congress began a series of hearings Monday before a Senate banking subcommittee into the massive data breach at Target and other retailers. The Secret Service was grilled about when Target told then about the breach, and another hearing is slated for Tuesday. That’s when Target CFO John Mulligan will be in the hot seat.
A western Pennsylvania credit union is suing Target Corp. for the cost of reissuing debit cards to about 75 customers whose account information was compromised by computer hackers who stole 40 million credit and debit card numbers from the retailer’s customers.
About 5 million credit and debit cards out of the approximately 40 million whose information was stolen in a massive Target data breach have been used to make fraudulent purchases. The Wall Street Journal says that translates to about 10 to 15 percent of the accounts that were compromised late last year.