Target Data Breach Charles Moore American Military University
Abstract Target a large retail corporation that operates over 1,700 stores across the United States. They also operate as an online retailer at target.com. In 2012 the retailer earned more than $73 billion dollars in revenue and grew their sales by 5.1% from the previous year. Looking at the revenue and sales growth rate it is hard to fathom that more money could not be spent to ensure that consumer data is protected as much as possible. As information security specialists one of the worst things that can happen is our network gets infiltrated and customer information is stolen. On December 19, 2013 Target released a statement stating that they have had an information…show more content… The attackers took the time to make sure to embed their malicious software inside files that were already being used on the target network. Masking and hiding their code allowed them to go undetected for several days. By the time they were discovered they had collected over 70 million consumers financial information and were selling the card information in batches (“29 new clues,” 2014). Target Management Once Target realized the nature and magnitude of the breach they released a statement to its consumers stating there was a breach. It began taking a proactive and open approach to the details of the attack and how it happened. Most companies would want to keep this information quiet and not lose customer confidence. Target has been one of the few that has a dedicated website that discusses the breach and what they are doing so that it doesn’t happen again. Within the website they have a FAQ section for consumers to understand what happened in laymen’s terms. The executive vice president and CFO John Milligan has recently stated that Target will be implementing smart cards for their retail credit cards that include a PIN. This is one of the measures being taken so that if the card information is stolen it cannot be utilized without knowing the unique pin that is associated with the card (Mulligan, 2014). Target has offered free credit monitoring for its consumers as well as investing five million
Thesis Statement: Target efficiently and effectively communicated a direct crisis communication after a large data breach by immediately starting an internal investigation once reports had surfaced, offered free credit monitoring to affected customers once it was confirmed, and were direct, upfront, and honest about the data breach when CEO Gregg Steinhafel posted YouTube videos explaining the details of the breach. Topic Sentences: 1. When Target was made aware of the data breach, they immediately…
In the News • In December of 2013, Target suffered a security breach, where 110 million of their customers were victims to hackers that targeted the store a year earlier. Credit card and bank card information was stolen. Target has taken a hit in sales due to the theft and has made efforts to secure customer information and preserve their relationship with customers who were affected. • I chose two articles from the NYtimes.com on the incident. One showing some of Target’s vulnerability…
LIABILITY Team 2 Assignment #1 Eric Andrews, Helena Bergmann, Greg Fairchild, Harold Francis, Bryan Frank, Erik Schott CSEC 620 9045 Professor McDavid TABLE OF CONTENTS 1: Introduction……………………………………………………………………3 2: Target……………………………………………………………………….….3 2.1: Mission and Attacks………………………………………………………...3 2.2: Possible actors and cultural factors…………………………………………4 2.3: Policy and Regulation……………………………………………………….6 3: Neiman Marcus…………………………………………………………………8 3…
publicity surrounding what has become the largest data breach in the retail industry, affecting Target and two other U.S. retailers. In NovemberDecember 2013, cyber thieves executed a well-planned intrusion into Target’s computer network and the point-of-sale terminals at its 1,800 stores around the holiday season and successfully obtained not only 40 million customers’ credit and debit card information, but also non-card customer personal data for as many as 70 million customers. In addition…
beginning of 2014 there has been a new threat to both retailers and consumers alike. This threat has been the rise of the cyber breach. A cyber breach is when a hacker works their way into a retailer’s server and steals vital customer information like credit card numbers and social security numbers. While it is not sold on the shelves or included on the receipt retailers like Target and Home Depot are selling piece of mind that their payment information will be safe. It makes for interesting research to…
2014 Re: Investment Recommendation on Target Corporation __________________________________________________________________________________________________________________ The purpose of this memo is to provide a reliable direction upon investment concerning Target Corporation. After careful and thorough investigation, an analysis regarding the company’s background and financial highlights result in a final recommendation towards our companies approach on Target. Target’s Form 10-K Annual Report Pursuant…
vulnerability in Microsoft Windows that was patched only after the breach occurred, according to a story in Thursday’s Wall Street Journal. Point 3: a malware strain designed to siphon data from cards when they are swiped at infected point-of-sale systems running Microsoft Windows. Point 4: Trend said the updated version, which it first spotted on Aug. 22, sports a few notable new features, including an enhanced capability to capture card data from the physical memory of infected point-of-sale devices.…
ways in which the chosen company behaves in a morally responsible way toward each of the following: a. Consumers b. The environment c. Employees Target Corporation (NYSE TGT) is known as one of the most upscale discount retailers in the country that provides on-trend merchandise at affordable prices, guest-friendly stores and high-quality. The first Target store opened in 1962 in the Minneapolis suburb of Roseville, Minnesota. Their mission and values are to offer a shopping experience and locations…
million businesses are hacked in this breach of it systems at JPMorgan chase this is according to an SEC filing recorded. This is the 11th largest breach by number of records compromised, officially at the institution. The customer accounts are safe because there are no account details and social security numbers or credit card numbers in the attack, in which it is limited to names, addresses, phone numbers and email addresses and also they managed to use inter data that is related to affiliated companies…
It was believed, but not confirmed that TJX’s customer data was either kept in plain-text format or the hackers were able to obtain the encryption key during the initial breach of the headquarters network. The customer data was also not stored appropriately; and it is believed TJX violated industry principles put in place to provide guidelines on how companies should store their customer’s data. “The TJX data storage practices also appear to have violated industry standards. Reports indicate that…
