It would appear that over 40 million credit card accounts owned by customers of Target in the US could have been breached. The news was first reported yesterday by Brian Krebs, and Target has now confirmed the breach today.
The security breach apparently took place between Thanksgiving and the 15th of December, and it affects customers who shopped at Target stores in the US.
“Target’s first priority is preserving the trust of our guests and we have moved swiftly to address this issue, so guests can shop with confidence. We regret any inconvenience this may cause,” said Gregg Steinhafel, chairman, president and chief executive officer, Target. “We take this matter very seriously and are working with law enforcement to bring those responsible to justice.”
The details which have been exposed include the customer name, credit or debit card number, card expiration date, and the CVV three-digit security code.
Impact on Customers
The breach has significant implications for the affected customers. With over 40 million accounts compromised, the potential for fraudulent activities is high. Customers are advised to monitor their credit card statements closely and report any suspicious activities to their card issuers immediately. Additionally, it is recommended to change PINs and passwords associated with the affected accounts to prevent further unauthorized access.
Target has set up a dedicated hotline and a section on their website to assist customers who believe they may have been affected by the breach. They are also offering free credit monitoring services to those impacted, which can help in detecting any unusual activities on their credit reports.
Steps Taken by Target
In response to the breach, Target has implemented several measures to enhance their security protocols. They have engaged third-party cybersecurity experts to conduct a thorough investigation and to assist in fortifying their systems against future attacks. The company is also working closely with law enforcement agencies to track down the perpetrators and bring them to justice.
Moreover, Target has accelerated the adoption of chip-and-PIN technology for their credit card transactions. This technology is known to be more secure than the traditional magnetic stripe cards, as it generates a unique transaction code that cannot be used again, thereby reducing the risk of fraud.
The breach has also prompted Target to review and update their data security policies and procedures. They are investing in advanced encryption technologies to protect customer data and are conducting regular security audits to identify and address potential vulnerabilities.
If you think you may have been affected by this, then head on over to the Target website at the link below for more information.
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