Target has reached a deal to pay up to $67 million to settle Visa claims related to a massive 2013 data breach that resulted in the theft of millions of debit and credit card numbers. Both Target Corp. and Visa Inc. confirmed the agreement Tuesday, but wouldn’t put a dollar amount on the deal.
With all the security breaches in the past year, many shoppers are concerned about using their credit or debit cards. But carrying large amounts of cash has its own risks. A survey by Bankrate.com in November found more than a third of American shoppers planned to use debit cards for Black Friday purchases. Many of those cards are tied to checking and credit accounts, and hold a wealth of personal information if hackers and thieves get their hands on them.
Valley Lettering in North St. Paul is always looking for more business. So as convenience to customers, owner Don Buckentin takes credit or debit cards. But for each transaction, he pays a fee. “This was far more than pennies,” Buckentin said. “This was hundreds of dollars.”
Popular sandwich chain Jimmy John’s seems to be the latest victim of a national data breach involving customers’ credit and debit cards.
With the simple click of a mouse, a total stranger can buy your credit card. Mark Lanterman is chief technology officer for Computer Forensic Services. “You can filter the cards based on expiration date as well as the last four digits of the credit card,” Lanterman said.
The Carver County Sheriff’s Office is warning the public of scams involving prepaid cards. Sheriff Jim Olson says scammers are tricking people into using Green Dot MoneyPak cards to pay shipping fees for phony rewards; to pay off nonexistent fines; to pay past-due utility bills with the threat of service disruption; to pay for computer virus removal and to seek money to pay a relative’s bail.
Ten years ago, 36 percent of retail purchases were paid in cash. Today, that’s dropped to 29 percent, and if this trend continues over the next generation, it could fall to 10 percent.
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.
The Minnesota Department of Revenue is choosing paper over plastic when it comes to tax refunds. The state tax agency confirmed Wednesday it is delaying a conversion from paper refund checks to preloaded debit cards for now.
The U.S. is the juiciest target for hackers hunting credit card information. And experts say incidents like the recent data theft at Target’s stores will get worse before they get better.
Target is apologizing to customers for its widespread data breach by offering a discount to everyone this weekend. But on Saturday, some of the emails customers received may have been part of a phishing scam. According to the Wall Street Journal, fake emails were sent out Saturday that looked close to the real ones. But instead of linking people to credit bureau websites, the sites were fraudulent.
Target says about 40 million credit and debit card accounts may have been affected by a data breach. The chain said Thursday that the accounts may have been impacted between Nov. 27 and Dec. 15.
With less than a week until Christmas, a real-life Grinch has stolen the credit and debit card information of about 40 million Target shoppers. Target says anyone who made purchases by swiping cards at terminals in its U.S. stores between Nov. 27 and Dec. 15 may have had their accounts exposed.
We know you’re looking for the easiest and smartest ways to shop as we get closer to Christmas. This week we are getting to the bottom of some of your holiday shopping questions. For Tuesday, we decided to take a look at that card you’re swiping. Is it better to press “debit” or “credit”?
Minnesota’s tax refunds will soon be converted from paper checks to plastic cards as a cost-saving measure.
A judge was correct in denying a preliminary injunction against the Federal Reserve seeking to prevent debit card transaction fee limits from taking effect, a federal appeals court ruled Wednesday.
Taxes seem to be getting easier to file and easier to spend this year.
A Twin Cities woman is suing TCF Financial Corporation claiming the bank manipulated her debit card transactions to generate more overdraft fees.