Retail News Breaks Archives
Target security breach compromises 40 million accounts
December 20th, 2013
MINNEAPOLIS – A major security breach at Target Corp. may have resulted in the theft of shopper data from as many as 40 million credit card and debit card accounts.
The breach — the second-largest data theft at a retailer in the United States — took place over a 19-day period beginning the day before Thanksgiving.
According to Target, the company identified and resolved the problem on December 15. The retailer notified customers via a website alert that customer names, payment card numbers, expiration dates and CVV security codes had been stolen.
“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,” chairman, president and chief executive officer Gregg Steinhafel said in a statement. “We take this matter very seriously and are working with law enforcement to bring those responsible to justice.”
The discount retailer alerted authorities and financial institutions after it became aware of the breach, and it has hired a leading forensics firm to investigate the crime.