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Impacts of identity theft
Negative impacts of identity theft
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The average consumer never thinks twice about using a credit card, when purchasing at a major chain department store. Most point of sales and credit card terminals, are made by a choice few companies. As a result this means that a hacker only needs to know how to exploit vulnerabilities from a small handful of systems. When a consumer makes a purchase they never wonder “is my transaction safe?” Never do they wonder if the company’s Information Technology department has upgraded all computer systems to the latest revision and updates. As a general rule the average consumer is unaware of what a ram scraper is, or if the company’s security has been breached until it is too late. That’s what happened for over 18 months to TJX Companies starting in July 2005.
TJX Companies is one of the largest global apparel and home fashions department store chain. For instance the stores owned by TJX Companies consist of T.J. Maxx, HomeGoods, Marshalls, AJWright, and The Maxx, which are located throughout the United States, Canada, and Europe. The sheer volume of transactions processed thru TJX Companies, made this breach so historic, since over 45.7 million card numbers were siphoned out of TJX Companies network and sold in the underground internet black market (Staff, 2007), usually called “data supermarkets”. In these data supermarkets credit card numbers can sell for as little as cents to as much as $10 to $20 per card number depending on quantity or source. Hackers have a complicated underground network for disseminating out this credit card data as quickly as possible, since the longer it takes for the bad guys to actually use the data the higher the chance the loss of the data would be discovered. Unfortunately the data breach at TJX Com...
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One day, while Bruno is preparing for a difficult stunt, he gets into an argument with the director and refuses to perform any stunts at all. Can X entertainment seek specific performance of the contract? Why or why not? p.216
The Minneapolis based Target Corporation announced in December that criminals forced their way into the company’s computer system. The data breach compromised 40 million credit and debit card accounts of customers who shopped during the holiday season between November 27 and December 15, 2013. The data captured was far broader than originally imagined as hackers gained access to 70 million customer’s personal information including names, home addresses, telephone numbers, and email addresses. Additionally, expiration dates, debit-card PIN numbers, and the embedded code on the magnetic strip of the card were stolen.
Hacking into large companies or agencies to steal one’s card information has become simple. Lewis (2013) says that, “Hacking is incredibly easy; survey data consistently shows that 80 to 90 percent of successful breaches of corporate networks required only the most basic techniques“(p. 1). On November 27, 2013, Target’s security was breeched when forty million credit and debit cards were stolen. The breach lasted from November 27 to December 15, 2013.
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.
Web. The Web. The Web. 15.Nov.2013 United States Government. National Security Agency.
More along those lines, the attackers were successful in loading the card stealing malicious software to cash registers in the Target store...
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
TJX, the largest off‐price clothing retailer in the United States. Winners and HomeSense in Canada are two from the eight organizations. TJX faced the largest online hack with about 94 million records lost in 2006. The company found in December 2006 about the breach. After the investigation, the company found that they were losing sensitive information since 2005.
Consumer Reports Sep. 2004: 12-19 Raphael, Louis. "Spyware: Technology's Version of Big Brother." Computer Technology Review Feb. 2004: 12-16 Stead, Bette Ann.
III. Thesis Statement: Identity Theft is rapidly becoming a national issue because anyone of us could be a victim of identity theft. How we protect our self, keep our information private, identify any signs of identity theft, and report and repair our credit is up to each one of us. We have to be vigilant about our protecting ourselves from criminals.
Hettinger, Mike, and Scott Bousum. "Cybersecurity." TechAmerica Cybersecurity Comments. N.p., n.d. Web. 11 Mar. 2014. .
Journal of Internet Banking & Commerce, 18(2), 1-11. Retrieved from http://www.arraydev.com/commerce/jibc/. Sullivan, C. (2009). The 'Standard'. Is identity theft really a theft? International Review of Law, Computers & Technology, 23(1/2), 77-87.
"The Cost of ID Theft, Part 1: Beyond Dollars and Cents." Commerce Times: Business Means Business. N.p., n.d. Web. 18 Nov. 2013.
Web. The Web. The Web. 25 Jan. 2014. Dyke, Van, and Albrecht W. "Identity Theft.
Thomas, Teka. "Cyber defense: Who 's in charge?" National Defense July 2015: 21+. War and Terrorism Collection. Web. 28 Oct.