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target security breach incident
target security breach incident
target security breach incident
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In December 2013, Target was attacked by a cyber-attack due to a data breach. Target is a widely known retailer that has millions of consumers flocking every day to the retailer to partake in the stores wonders. The Target Data Breach is now known as the largest data breach/attack surpassing the TJX data breach in 2007. “The second-biggest attack struck TJX Companies, the parent company of TJMaxx and Marshall’s, which said in 2007 that about 45 million credit cards and debit cards had been compromised.” (Timberg, Yang, & Tsukayama, 2013) The data breach occurred to Target was a strong swift kick to the guts to not only the retailer/corporation, but to employees and consumers. The December 2013 data breach, exposed Target in a way that many would not expect to see and happen to any major retailer/corporation. How It Happened The December 2013 data breach exposed the underbelly of Target, to not only the nation but to the world. The type of data that was stolen during the data breach was information on guest members. This information included guest members names, addresses (physical and e-mail), and/or phone numbers. This information did not include guest members’ social security numbers. The data breach occurred when hackers, according to Target Corporation (2014), “criminals forced their way into our system, gaining access to guest credit and debit card information.” The Target data breach has affected more than 70 million Target guest members. The breach started through a contracting company called Fazio Mechanical Services, Inc. (FSM). FSM is a HVAC contractor “connected to Target’s systems to do electronic billing, contract submission, and project management.” (Goche & De Metz, 2014) The start of the data breach madness beg... ... middle of paper ... ...om http://krebsonsecurity.com/2014/02/email-attack-on-vendor-set-up-breach-at-target/#more-24313 Riley, M., Elgin, B., Lawrence, D., & Matlack , C. (2014, March 13). Target Missed Warnings in Epic Hack of Credit Card Data - Businessweek. Retrieved from http://www.businessweek.com/articles/2014-03-13/target-missed-alarms-in-epic-hack-of-credit-card-data Target Corporation (2014). Payment Card Issue FAQ: Data Breach FAQ. Retrieved from https://corporate.target.com/about/shopping-experience/payment-card-issue-FAQ#q5888 Timberg, C., Yang, J. L., & Tsukayama, H. (2013, December 19). Target says 40 million credit, debit cards may have been compromised in security breach. Retrieved from http://www.washingtonpost.com/business/technology/target-data-breach-affects-40-million-accounts-payment-info-compromised/2013/12/19/5cc71f22-68b1-11e3-ae56-22de072140a2_story.html
For example credit card transactions and security breaches have occurred which have cost the company million of dollars. Target Corporation must do a better job of securing its data to prevent future loss in profit, sales, and stock values.
Target has 1,799 stores, and its annual revenue was more than $71 billion in 2014. Considering that Target operates only in the United States, the company’s total income does not seem too low. Like Walmart, Target is open to all customers without membership, and its products are similar to Walmart’s products. For example, both companies sell household essentials, pharmaceuticals, personal care items, cleaning and paper products, apparel, accessories, sporting goods, electronics, and food items, along with furniture and other products. Instead of offering membership discounts, Target offers REDcard debit and credit cards, which provide consumers with a 5% discount on purchases. Since Target utilizes e-commerce for sales of its goods, delivering products worldwide can be highly beneficial for the company’s
After the breach, many Target customers refused to shop at their stores due to losing trust in the company. Target’s security breach was not an isolated incident; numerous other companies have faced similar security breaches such as Home Depot, Neiman Marcus, Sony, and this could even happen on your own personal home computer. As a Target cardholder and loyal customer for many years, I believe the company took appropriate actions to notify customers of the breach. Target informed me by email and sent a letter reassuring my information was not compromised. As a valued Target cardholder, I was given the opportunity to apply for the free credit-monitoring program, which I took full advantage of. As an additional measure, Target provided customers with a new online safety feature to monitor suspicious activity by allowing customers to set alerts through email or text when purchases exceeded a specified amount. Consequently, Target is tightening security and making every effort to gain back trust to retain
The security breach involved most of the Target stores in the U.S. Along with the card numbers, debit card pins, buyer’s names, and personal information were stolen as well. Some customers filed a lawsuit against Target for “failing to protect customer data.” (Demarche, 2013. p.1). Later, Target CEO Steinhafel stated, “I know that it is frustrating for our guests to learn that this information was taken, and we are truly sorry they are having to endure this.” After Steinhafel issued his apology he doubled the amount of employees to take phone calls from customers, as well as give a ten percent discount to those who shopped on the 28th and 29th of December.
Issa utilizes statistics to suggest ideas. He says, “The Office of Personnel Management’s security breach resulted in the theft of 22 million Americans’ information, including fingerprints, Social Security numbers, addresses, employment history, and financial records” (Issa). Issa also adds that, “The Internal Revenue Service’s hack left as many as 334,000 taxpayers accounts compromised‑though just this week, the IRS revised that number to o...
Zappos has got a customer base of nearly twenty-four million people. In the period of January 2012, Zappos has undergone suffering due to data security breach which provided hackers private info of their customers. The securities breach shown customer names, their addresses, and phone numbers but did not provide the credit card information of customers. After Zappos got to know about the security breach, Zappos have sent bulk emails to all the customers informing them about the security breach and recommended that they change their login details on the website.
At first report, the data breach was discovered to have compromised all Target stores nationwide, and it involved the theft of credit card numbers and customer stored data within the magnetic strips of cards that were used in the stores. It was believed to have occurred right after Thanksgiving Day and in to December (Krebs, 2013). Apparently, online shoppers were believed to be safe from the hack and that only the stores were attacked. Now, the intrusion was believed to have resulted from a visit to one of Target’s stores by an HVAC company named Fazio Mechanical Services from Sharpsburg, PA. Krebs (2014) stated, “Target told reporters at The Wall Street Journal and Reuters that the initial intrusion into its systems was traced back to network credentials that were stolen from a third party vendor” (para. 1).
Target Corporation operates under general merchandise in a retail trade industry with a NAICS code 452 (BLS, 2015), such sectors are unique in nature and conduct business using equipment and staff that are capable of retaining much needed variety of non-perishable and perishable products from a single large store. The general Merchandise and Supercenters employs mass merchandising, which is a retailing method involving high volume, fast turnover selling of goods sold less than the traditional price. Target Corporation satisfies these selling criteria and is called
I chose the article about the Target Data Breach because I was actually one of the people affected. I wanted to learn about how to handle the situation and what to do in case more information was compromised. I wanted to know more information about how something like this can happen and affect so many people. It is also a major issue being discussed in the news and in finance so I wanted to learn more about how Target and the banks will handle this issue. This article is about how 40 million credit and debit card accounts were stolen. It explains the difference between experiencing credit card fraud and only getting your account information stolen. Most of the people that had their information stolen were not affected by credit card fraud. An explanation of this is that fraudulent transactions may be rejected by a retailer’s anti-fraud system and the consumer might not even be aware of any activity taking place because it is being stopped before the fraud can even take place. Also, since such a large number of people were affected by the scandal, most banks have taken control and cancelled and replaced the old credit and debit cards to prevent any theft from happening. Many banks are waiting to see if the fraud actually happens before reissuing cards because it is so costly. Although there has not been very much fraud at this point, hackers may be waiting for all of the publicity to die down before they commit their fraudulent acts. The article states that many times hackers may wait a year or two to use account information. When the hackers wait a long period of time, the ...
Good afternoon members of the media and our target customers. My name is Spencer Beck and with me is Kaylyn Nese, John Bui and Jennifer Tran. We appreciate the chance to be here to discuss important issues surrounding data breeches and cybercrime. To begin with, I want to say how deeply sorry for the impact this intrusion had on our guest. We know this break in security has shaken their confidence in the Target’s brand and we will work endlessly to restore their trust.
Target is one of the biggest and leading companies in the retail market. “Target’s customer credit and debit card information of as many as 40 million customers was compromised it was called one of the largest breaches ever of American consumer data.” (Jamieson & Erin, 2013) “The breach captured data stored on the magnetic stripes of the cards that customer’s swipe at the cash register, according to Krebs on Security, a respected data security blog. The breach involved everything from customer names, e-mails as well as mentioned the credit card information including the CVV codes on the back of their cards. The breach occurred during the holiday season of Thanksgiving including Black Friday one of the notorious shopping holidays of the year.” (Jamieson & Erin, 2013)
About 15 million United States residents have their identities and information used fraudulently each year. Along the use of their identities, they also had a combined financial loss totaling up to almost $50 billion. Major companies such as Apple, Verizon, Target, Sony, and many more have been victims of consumer information hacking. In each of the cases, millions of consumers’ personal information has been breached. In the article “Home Depot 's 56 Million Card Breach Bigger Than Target 's” on September 18, 2014, 56 million cards were breached due to cyber attackers. Before the Home Depot attack, Target had 40 million cards breached. Company’s information is constantly being breached and the consumers’ are the ones who end up having to pay the price. If a company cannot protect the information it takes, then it should not collect the information.
Nowadays, hacking systems which get the data from payment card in retail stores is a popular issue. The use of stolen third-party vendor credentials and RAM scraping malwares were the main reasons for the data breach. A brief introduction of when and how the Home Depot’s data breach took place and how the home depot reacted to the issue and rectified it by
One of Target’s goals is to provide more organic foods. Target is aware of how society is shifting their interest towards organic foods and health. Another one of Target’s goals is to reduce water waste by 10 percent in 2015, whih was met in 2014 by 13.1% (Target Corporate). The company is aware of the possible damage that water waste can cause to the environment and is actively working to prevent them. So far, Target has not had much attention surrounding their social responsibility, but there was one incident in December of 2013 where data of at least 70 million customers were leaked (Target Corporate). This breach allowed criminals to access credit card and debit card information. There is an entire FAQ page on the corporate website answering any questions or concerns that customers may have. Target has recently agreed to a $10 Million settlement in the lawsuit that came after the data breach, in which people will have to provide proper documentation showing their losses during the hack (Parks). Despite this compensation, some customers may not be comfortable shopping at Target
Reckard, Scott E. “Banks Are Warned About ATM Hacks” Los Angeles Times 3 April 2014. Web.