Target was warned of data security problems
Feb. 19, 2014 – Target Corporation was warned of problems in its payment card system’s security before the massive data breach that affected as many as 110 million consumers, according to reports from The Wall Street Journal and American Banker.
The reports said computer security staff recommended the company review its security more than two months before the breach, when Target was updating its payment terminals and preparing for the holidays. The Journal also cited warnings in memos from the federal government and private companies that Target and others received last year. The paper said it unclear whether the payment system was reviewed after the warnings.
According to the Courthouse News database, at least 53 lawsuits have been filed against Target since the breach.
NAFCU continues to push national standards for merchants’ data protection, noting the “chip-and-PIN” card technology retailers are promoting won’t solve the problem of data breaches.
At NAFCU’s recent Technology and Security Conference in Las Vegas, Senior Vice President of Government Affairs and General Counsel Carrie Hunt spoke about hearings and bills Congress has initiated in light of the Target breach and in response to NAFCU’s urging. She also talked about National Institute of Standards and Technology’s release of a voluntary cybersecurity framework with risk-based guidelines, a move supported by NAFCU.
Wall Street Journal report
American Banker article