A news article Saturday puts the blame for the 100 million plus credit card breach squarely on the Target bullseye. The story in the New York Times said hackers trolling for vulnerable retailers found an easy target (pun intended), in the Minneapolis-based company.
An email sent to the roughly 70 million Target customers who may have been affected by a pre-Christmas data breach is causing panic among those who fear it could be an attempt to victimize them again.
In counterpoint to the “big box” model, Target announced plans to test out a small format store in the middle of the University of Minnesota’s Dinkytown neighborhood. The company said the story would be a mere 20,000 square feet.
The security breach that hit Target Corp. during the crucial holiday season seemed to be part of a broader and highly sophisticated scam that affected several retailers, says a report published by a global cyber intelligence firm that works with the U.S. Secret Service and the Department of Homeland Security.
Two North Dakota residents are named as plaintiffs in a federal lawsuit against Target for the massive pre-holiday 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.
The CEO of Target is finally speaking out after the massive security breach that impacted millions of Americans over the holidays. He’s defending Target and how the company has handled the breach, and said the company is working now to gain back the trust of many shoppers.
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.
Fallout from Target’s pre-Christmas security breach is likely to affect the company’s sales and profits well into the new year. The company disclosed on Friday that the massive data theft was significantly more extensive and affected millions more shoppers than the company reported in December. As a result of the breach, millions of Target customers have become vulnerable to identity theft, experts say. The nation’s second largest discounter said hackers stole personal information — including names, phone numbers as well as email and mailing addresses — from as many as 70 million customers as part of a data breach it discovered last month.
The Bureau of Criminal Apprehension says a suspect matching the description of the man who held up a Target Pharmacy Thursday has struck again.
Target is getting hit with another lump of coal this holiday season. The nation’s second-largest discount retailer said Tuesday that an unidentified number of gift cards sold over the holidays were not properly activated.
The fallout over the security breech that resulted in the theft of credit information for an estimated 40 million Target shoppers continues. CBS News is reporting that consumer reaction to their response to the theft was not encouraging. Many have avoided shopping at Target, canceled their Target credit cards, and may even be planning to sue the company.
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.