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Target reaches settlement on 2013 data breach

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Retailer to pay $18.5 million to 47 states, District of Columbia

NEW YORK — Target Corp. has reached an $18.5 million settlement with 47 states and the District of Columbia over the retailer’s 2013 data breach, New York’s attorney general said Tuesday.

The breach, which Target has said occurred between November 27 and December 15, 2013, affected more than 41 million customer payment card accounts and exposed contact information for more than 60 million customers. Cyber attackers had accessed Target’s gateway server with credentials stolen from a third-party vendor, and then installed malware on the system that was used to capture consumer data, including full names, telephone numbers, email and mailing addresses, payment card numbers, expiration dates, CVV1 codes, and encrypted debit PINs.

“New Yorkers need to know that when they shop, their data will be protected,” said New York Attorney General Eric Schneiderman, who announced the settlement, which he said is the largest multistate data breach settlement to date. “This settlement marks an important win for New Yorkers – bringing over $635,000 into the state, in addition to the free credit monitoring services for those impacted by the data breach, and key security improvements to help protect Target consumers moving forward.”

The breach hurt Target’s sales in the closing days of the 2013 holiday season, and the effect on store traffic, revenues and profits lingered for months, and led to big changes as the company. Target’s then-chairman, president and chief executive officer Gregg Steinhafel resigned in May 2014, and was replaced in August of that year by current CEO Brian Cornell.

While Target was recovering from the effects of the cyber attack on its data in 2014, a number of other retailers suffered data breaches of their own, including Home Depot, Supervalu and Kmart.

 


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