Target Data Breach

What exactly happen?
Over 40 million credit cards and debit cards that were swiped at a US Target store may have been exposed. The stolen data includes customers’ names, credit card debit card numbers, expiration date and the security code.
What was the impact from this happening?
The Impact from the data breach was customer information was stolen and card numbers.
What was the monetary loss?
Each cards that was stolen was taken 18-37 dollars out of each card stolen. Target lost 46 percent in profit after the data breach. Target will spend 200 million on costs of to credit unions and banks for reissuing 21.8 million card to customers.
The hackers stole 53.7 million us dollars for the cards stolen.
According to Target it will spend 100 million upgrading their payment terminals to support chip and pin enabled card.
What was the negative publicity?
The negative publicity is Target customers lost their trust to target and didn’t feel safe going back to shop at Target. There has been over 90 lawsuits against Target since the data breach last year from customers and banks for negligence and compensatory damages.
How did it happen?
A few days before thanksgiving a hacker installed malware in Targets security and payment system designed to steal every credit card used at any US stores. Event time the customer swiped the card it would capture the numbers and stored it on a Target server commandeered by the hackers. Six months earlier the company began installing a $1.6 million malware detection tool made by the computer security firm Fire Eye (FEYE), whose customers also include the CIA and the Pentagon. Target had a team of security specialists in Bangalore to monitor its computers around the clock. If Bangalore noticed anything suspicious, Target’s security operations center in Minneapolis would be notified. On Saturday, Nov. 30, the