Approximately 40 million Target customers need to be on high alert, after the company confirmed a massive data breach of its customers’ debt and credit card data between Thanksgiving and mid-December. Information involved in the breach included customers’ names, credit or debit card numbers, card expiration dates and CVV codes. Target is partnering with a forensics firm to conduct an investigation of the incident and the retail giant is working with authorities and financial institutions to investigate.
“We take this matter very seriously and are working with law enforcement to bring those responsible to justice,” said the chairman, president and chief executive officer of the company, Gregg Steinhafel, in a statement. “Companies like Target that are victimized by hackers increasingly find themselves on the business end of class-action lawsuits,” writes Jason Weinstein on Steptoe & Johnson’s Cyberblog. Claims can range from violations of state unfair competition and privacy laws to contract and negligence, as well as investigations by the Federal Trade Commission and state attorneys general.
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