A bevy of retailers have allied to share information on their cyber-security efforts, which should help stem the tide of black-hat hacks like the massive data breach that affected Target last year. The Retail Cyber Intelligence Sharing Center has some of the heaviest hitters in retail, but some who have been affected are abstaining from membership — for now.
Effective immediately, CEO of Target Gregg Steinhafel will be stepping down from his role at the retailer. CFO John Mulligan will be taking the CEO position in the interim, leaving the board to search for a new chief to lead the way. As Target notes in the announcement, Steinhafel held himself "personally accountable" for the recent data breach, which likely contributed greatly to his demise.
Target ignored warnings of the massive credit card hack from the $1.6m security system it had installed specifically to watch out for data thefts, insiders claims, with signs of abuse being flagged weeks before the company recognized the breach. 40m credit card numbers, as well as the personal details of around 70m customers, were stolen late in 2013, costing the retailer $61m already in setting up advice hotlines and taking other measures, but which could well run to the billions once compensation and lawsuits are settled.
Late last year retailer Target was hit with a hack that allowed nefarious users into its systems. The hackers made off with details on 70 million customers including credit card numbers and more. Target maintained early on that no debit card PIN numbers were stolen, only to come back later and admit PIN numbers were stolen too.
We've know for a while now that retailer Target was the target of an attack that resulted in the loss of shopper credit card data. Target noted from the start that the credit card data that that was stolen was from customers that shopped in physical stores, not those who shopped online. Early on Target denied that any PIN numbers were stolen along with the card data.
It would appear that the debacle Target is facing this holiday season is turning over as we speak. Though they’d previously suggested that findings showed no PIN data to have been stolen in their 2013 credit card breach, today’s update says otherwise. The positive side of this situation is the fact that these PIN numbers are wholly encrypted.
Target was hacked during the busy Christmas shopping season and the resulting data breach is believed to have compromised as many as 40 million credit cards. This breach is notable because it didn’t affect online shoppers, rather the card data stolen was obtained by Target when cards were swiped in stores.
Millions of the stolen credit cards snatched from Target shoppers in recent weeks are being sold on the black market, it's reported, amid some banks holding off freezing potentially compromised accounts out of uncertainty around the extent of the issue. Target admitted earlier this week that around 40m customers had potentially been affected by credit and debit card thefts in stores between November 27th and December 15th; now, new research indicates many of those cards have ended up being sold online, with the banks that issued them either unaware or reluctant to cancel them so close to the holidays.
Target has confirmed a credit and debit card hack potentially affecting up to 40m customers shopping in its US stores, with the stolen data including everything thieves could need to make fraudulent purchases. The hack, rumored earlier today, impacts any shoppers at Target's stores between November 27th and December 15th this year the retailer says, as it kicks off an investigation into the breach.