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Target annual report data breach
Target annual report data breach
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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.
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).
More along those lines, the attackers were successful in loading the card stealing malicious software to cash registers in the Target store...
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...ing of the end for the world against digital crime or perhaps it could become a blessing in disguise. It is quite believable that this type of crime and much more will continue and even become more prominent. However, the Target breach could teach the information security world a lesson or two on exactly what to do to either eliminate these attacks where they can or simply mitigate them when elimination is not possible. Regardless of what the future holds, the most certain outcome that must be address is that the information security world must get better at catching these types of attacks prior to the occurrence or preventing them altogether. It would be wonderful to be able to say one day that these crimes no longer exist; however, that is more likely a dream that is quite farfetched that the reality of living with criminals inside of future networks permanently.
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.
Compared to past, today we have sound security policies, established cyber laws, active monitoring systems, and extra layers of security in form of firewalls etc., to prevent access to uninvited guests for your network and most importantly increased user awareness. But still there exist vulnerabilities in and around the cyber space of which the hackers exploit for different purposes. The monetary losses we suffer today are much greater in magnitude as well as in mass. But, we definitely are in a better place compared to the time the events in this book took place.
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
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...
Taylor, R. W., Fritsch, E. J., Liederbach, J., & Holt, T. J. (2011). Digital Crime and Digital Terrorism 2nd edition. Upper Saddle River, New Jersey: Prentice Hall.
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.
For nearly half a century, Target has ran as a successful company dedicated to their unique business model. To stay competitive in the market, Target Corporation faces a constant challenge to be innovative, intelligent, and resourceful to provide the best shopping experience. Target’s culture is one of its main contributing factors to becoming the second largest retailer in the United States. As executives, HR structure is a major component to a company's success and has many key aspects that must be met. Businesses are kept in operation through their Recruitment and Selection process, Performance Management and Employee Development, and Compensation and Benefits. We will analyze these aspects of Targets HR structure and provide recommendations
When it comes to cyber crimes we can’t put a face to the crimes being committed, it’s easier to find ways to prevent hackers from gaining access to important data than searching and putting them in handcuffs. Traditional police theories will not work for cyber crimes, so cyber police theories need to be developed.
As the second largest discount retailer in the United States, Target has 1,796 stores in the United States with a total of 38 distribution centers (Corporate Target, 2016). As of 2016, Target has a total of 341,000 employees. George Dayton founded Target, formerly known as Goodfellow Dry Goods, on June 24, 1902 in Minnesota. On May 1, 1962, Goodfellow Dry Goods became Target. The major products that Target offers to customers are clothing and apparel, toys, home appliances, furniture, electronics, entertainment products, and healthy and beauty products. Target retail outlets can be found both online and offline. Target is known for its discounted prices and great customer service. The guests that walk through the doors of Target
Neiman Marcus shared news of the breach on January 1, 2014. The Secret Service and Attorneys General of Connecticut and Illinois are currently investigating the breach, which many believe is connected to the Target security breach. The breach is not thought to have targeted online purchases and did not access customers’ PIN data or Social Security numbers. Authorities believe the same group of hackers in Eastern Europe is responsible for both incidents, which may be connected to an even larger cyber attack.
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
In 1995, Target began offering credit which was known as the Target Guest Card (Target Through the Years). This was a big step for the company in establishing customer loyalty and relations through the use of technology. By 2004, the cards were renamed REDcards and were able to create data portfolios to help Target figure out product demands and create different routes to satisfy their customers even more (Target through the Years). This was a huge step for Target and their use of technology to better their
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
The advantages of technology and the internet have led more criminals to use cyberspace to commit crimes. The threat of cybercrime is increasing as globalization continues to spread across the world. While the impact of globalization has led to amazing, new discoveries throughout the world, Internet connectivity has also made cybercrime easier. America and the rest of the world have become more reliant on technology and use it in more aspects of their lives, technology-users make themselves more vulnerable to cyber attacks. Globalization and the growing use of computers in the world have given people a motive to learn more about computing and become more knowledgeable as programmers. As these people learn more, there is a risk that they will use their new intelligence to commit cybercrimes.
Cybercrimes are on the rise now. People information are constantly getting hacked. Target computers were recently hacked and over a thousand people credit card information was stolen. Every day we