Target Corp. has acknowledged its security software picked up on suspicious activity after a massive cyberattack was launched, but it decided not to take immediate action. The acknowledgement comes after Bloomberg Newsweek reported Thursday that Target’s security team in Bangalore received security alerts on Nov. 30 that indicated malicious software had appeared in its network.
Target is under fire once again after a front-page article in Bloomberg BusinessWeek says the company ignored an early warning from its own cybersecurity firm that it had been attacked. The news magazine is reporting that Target received the warning on Nov. 30. Previously, Target CEO Greg Steinhafel said he learned of the breach on Dec. 15. The public was notified Dec. 19.
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.
The departure of Target’s chief information officer in the wake of the company’s massive pre-Christmas data breach highlights the increased pressure facing executives who are charged with protecting corporate computer systems from hackers whose attacks are on the rise and becoming more sophisticated. Years ago, the job of a CIO focused mainly on the upkeep of computer systems. In their largely behind-the-scenes rolls, most of their major decisions centered on the kinds of technological innovations a company would adopt, when and how much to pay for systems upgrades and the creation and maintenance of company websites.
Target Corp. Chief Information Officer Beth Jacob is resigning effective Wednesday as the retailer overhauls its information security and compliance division in the wake of a massive pre-Christmas data breach.
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.
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.
Minneapolis Police have refuted reports that smartphones had been taken from at least six IT professionals over the past two days. Earlier on Thursday, it was reported that a source told CBS News that smartphones had been stolen from workers at the downtown headquarters in Minneapolis.
Target Corporation announced Wednesday that the company would be eliminating about 475 positions. The news comes after more than a month’s worth of bad press over a data breach.
As consumers continue to absorb the news that the Target data breach affected far more people than the chain originally announced, the company is offering a year of free credit monitoring to customers. Target initially said 40 million credit card accounts were compromised, but now says the figure is closer to 110 million. Target’s stock was down again Monday, and the retailer announced last week that fourth quarter sales, which included the big holiday shopping season, were down two percent.
Luxury merchant Neiman Marcus confirmed Saturday that thieves stole some of its customers’ payment card information and made unauthorized charges over the holiday season, becoming the second retailer in recent weeks to announce it had fallen victim to a cyber-security attack. The hacking, coming weeks after Target Corp. revealed its own breach, underscores the increasing challenges that merchants have in thwarting security breaches. Ginger Reeder, spokeswoman for Dallas-based Neiman Marcus Group Ltd., said in an email Saturday that the retailer had been notified in mid-December by its credit card processor about potentially unauthorized payment activity following customer purchases at stores.
Sen. Robert Menendez wants the federal government to hold companies accountable when their customers’ financial information is stolen.
Some of Target’s employees won’t spend the Christmas holiday at home. The company says corporate staff will continue to help people whose data was breached.
The Secret Service says it is investigating a credit- and debit-card data theft at Target stores. Secret Service spokesman Brian Leary confirms the agency is investigating, but declined to provide further details.
Three former Hispanic employees are suing Target Corp. for discrimination and retaliation, citing a training document reminding managers that not all Hispanics eat tacos and burritos, dance to salsa or wear sombreros.