The data breach at Target had a massive impact on cyber security. According to Lauren Abdel-Razzaq, we live in a world where consumers don’t even think twice about paying with a credit or debit card or buying items online or with mobile devices (2014). However, data breaches have become a major threat and continue to impact companies all over the world. Companies should take information security as seriously as possible. We don’t live in a perfect world. Anything can happen at any time, even if a company has the most sophisticated security system in place. It is how a company reacts to a data breach that will make or break them.
As a result of the Target data breach, most retailers have switched over to more secure payment methods. “If you install a large, strong gate at the front of your property, but a hole exists in the back fence large enough for a thief to
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“Upon investigation of what really went wrong, the FireEye security system they use showed that the warnings had been there all along, meaning the security team in Bangalore missed them, or chose to ignore them” (Marks, 2014). During the time of the year when people are doing the most shopping is not when companies should be negligent about information systems security. Once there was the smallest bit of concern, Target’s upper management should have been made aware of the situation. This could have helped them prevent the data breach, but unfortunately it was too late.
Target hasn’t been the only company to fall victim to a data breach. Given the world that we now live in, regrettably, Target also won’t be the last company to be a victim. “Though Target’s breach made news due to the sheer size, hundreds of other businesses are being targeted, like eBay, Neiman Marcus, and AT&T” (Marks, 2014). There are some steps, however, that companies can implement in order to be better prepared if such an incident
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.
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...
With Target handling the security breach as best as they could, investigators and the Department of Justice are trying to figure out how the security breach happened. Upon investigation, it is believed that “the data was obtained via software installed on machines that customers use to swipe magnetic strips on their cards when paying merchandise…”(Reuters, 2013. p.1). Even though investigators provided the theory above, they are still unsure of how the cyber criminals were able to take so many card numbers from almost all the Target stores. The investigators and feds are still looking into how and who stol...
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.
The year 2013 was not one marked for pride for the retail chain, Target. They had one of the largest data breaches known to date that occurred between November 27th and December 15th. Not only was this the one of the largest attacks known to date of this kind, it was also quite eye opening to many who may not have paid any attention to the world of information security. The Target hack resulted in 40 million compromised credit and debit card accounts and that was just the initial known result. After some time, the research revealed that a total of as many as 110 million Target customers were the victims of this gigantic hack. Although computer crimes occur within the United States often, the bigger problem is that criminals from other countries across the oceans are attacking as well.
The author appear to be moderately perplexed by the fact that American state that they are concerned about privacy but they yet disclose personal information to entities. I would offer that the reason many are disclosing the information, is that business will not offer their services or product without the personal information. One can go to another vendor for service, only to have the same problem repeated. Now what is perplexing, is the authors claim that “a significant number, 11%” (Caftori & Teicher, 2002) of the population believes that corporate owners should go to prison for violations of information privacy. I must say, I never thought of 11% of a population as a significant percentage, but I am just a student. More confusion for the authors is when a computer system that handles big data has faulty output. They use the analogy of an airline, and if they lose your luggage and should receive compensation, but this is not the case when the DMV provides faulty data. This should not be perplexing, with the airline an explicit contract is made with the purchase of the ticket. The airline is transport my body and my luggage to the agreed location without damage or loss. Luggage is tangible. The contents are worth x amount of dollars and the airline pays the individual
Computer crime has been an issue since the beginning of computers. Wherever there is something good, there is always someone who takes advantage of it. This can be seen in cyber crime, which has been on the rise in recent years. According to the Los Angeles Times, the median cost of computer crime to a company per year has risen from $3.8 million dollars in 2010 to $5.9 million. (Rodriguez, 2011) This suggests that computer crime is becoming an even bigger hazard to companies. A recent example of this was the data breach committed against Target in 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.
This analysis will explore The Home Depot data breach which occurred on Sept 8th, 2014, one of the nation’s largest security retail compromises of that time. The Home Depot, with over 2,200+ stores in the United States, Canada and Mexico, suffered a historic cyber-attack of significant proportions. The breach was devised by skilled hackers who developed an unknown custom malware that penetrated their payment systems and stole over 56 million credit cards and email addresses from millions of customers. In my research of this case, it was difficult for me to comprehend that the world’s leading home improvement retailer could be so careless given this breach occurred less than a year after the Target data breach in December 2013. This evaluation of The Home Depot will examine the company’s discovery of the breach, their response to customers, improved data security measures, and finally the outcome including present day findings
It is without a doubt one of the greatest retail security ruptures ever. Weeks after the cyber hack initially occurred, Target at long last recognized the rupture on December 19. The genuine inquiry is the reason this basic issue remained unreported for all nowadays. In the event that announced before, clients could've taken suitable wellbeing measures to keep their data from being abused.
Management should have policies and tracking systems regarding inventory that can indicate if an employee is stealing money or products from the Target stores. Target should allocate a lot of time and resources to theft loss prevention. Theft is not only a financial loss, but it can lead to workers compensation claims and loss of customer loyalty with the brand. It is important that enterprise risk management is aware of potential risks with theft and violence. Training on the store level is the key to minimize the exposure of risk to the entire business.
The Target breach which is said to be the second-largest retail cyber-attack in history wasn’t necessarily inventive, nor did it appear destined for success, yet hackers were able to access roughly 40 million customers personal information by installing a malware into Target’s security system.1 In the days leading up to Thanksgiving 2013 the hackers installed malware in Target’s security and payments system which was designed to steal every credit card used in store at over 1,797 U.S. locations. The data breach initially disclosed in December which exposed around 40 million customer’s names, card numbers, card expiration dates, card security codes and debit card pins were recorded for the hackers to see, although the pins were encrypted. After a later review Target disclosed additional information which later was said to be that roughly 70 million more consumers had their names, addresses, phone numbers and email addresses exposed.2
“Shoplifting, worker theft cost retailers $32 billion last year,” is the title to a Fortune 500 article written by Phil Whaba. The name of the article sums up the immense problem facing retailers in the United States. Companies are not just losing millions of dollars in merchandise to theft, they are in fact losing billions of dollars to theft. To protect themselves, many retailers and companies incorporate security to help protect their goods and mitigate the threat of thefts. While employing security to solve this issue can be effective, it also brings with it implications which can lead to lawsuits and negative publicity for the company. Some of the implications include additional training, policies and procedures for officers, as well as the additional consequences of potential injury to staff and perpetrators, which can both have far reaching legal weight attached to each issue.
Ques1 Provide a brief overview of the case study This case study is based on the European Union Agency for Network and Information Security (ENISA) to examine the current and emerging cyber threats and threat trends for emerging technology areas. This will be followed by the explanation of threats, threat agents, technology areas and attack methods. This case study also provides a description of the procedure followed and also a few descriptions on use cases of cyber threat intelligence. The primary commitment of the ETL 2014 lies in the recognizable proof of top cyber dangers inside the reporting time frame. With the developing risk landscape, it makes up the fundamental commitment towards identifying cyber dangers.
Kharpal, A 2013, Cyber-crime is ‘greatest threat’ to companies survival: EY, CNBC, accessed 12 November 2013, http://www.cnbc.com/id/101155856