From Nov. 27 to Dec. 15 the second largest security breach was performed when hackers collected credit card information from Target shoppers across the nation. All customers who used their card at the store between those dates were at risk for credit card fraud. While Target gave every customer 10% off many customers are beginning to feel like this deal just was not enough to make up for the damages. Target Corporation is now facing lawsuits over the data breach in three states, with other suits currently pending.
When the breach occurred representatives from Target stated that they were unsure how the breach occurred and how much information criminals might have. They stated that they were not sure exactly how to handle the situation but did recommend some steps for customers to take in protecting their funds from being stolen. Some of these steps included calling the banks for more information, cancelling your card, or closely monitoring your account for any identity theft.
But the banks seemed to take more action to the breach as many banks told customers that they would only be allowed to withdraw so much money from their accounts until the issue was resolved. This move, however, created more controversy and hassle for customers who still had Christmas shopping to do.
40 million customers swiped their cards at Target Corporation before the data breach that now has the customers looking toward lawsuits. The ability to contain security for that many customers is impossible, according to store representatives and bank representatives. So what are customers to do in order to take care of the damages? Hence the lawsuits.
After finding out that the credit card data was breached customers soon found out that many of the card numbers stolen were flooding the black market, where their information was being sold underground to anyone who wants to buy for as much as $100 per card number. This caused a major concern for Target customers who had used their card during the holidays.
Today it was reported that three class-action lawsuits were officially filed against Target Corporation who are now facing more than $5 million in damages over the data breach. Two of the lawsuits were filed in California and one in Oregon, though according to the Attorney General four states are investigating the target breach in order to gather information about the crime.
Over the weekend Target CEO told customers that they would offer free credit monitoring to anyone who used their card during the dates of the breach. But comments from attorneys state that Target will have to do a lot more to bring back customer confidence in the store.
An attorney from New York also stated that the issue would come down to when Target Corporation knew that they were facing a data breach and how long they waited before they acted on the information, as laws require stores to give immediate notification.
In the meantime, customers can only try to contain the damage on their bank accounts until further information is discovered. More lawsuits are expected to be opened, according to consumers, as the damages of the breach are still unknown.
By Crystal Boulware