It is getting worse all the time for the customers, that is the second update today.

This story just keeps getting more twists...for the worse.
 
After Reuters reported yesterday that Target was not the only major retailer to be breached over the holidays (Neimen Marcus and at least three other retailers were hit as well), a recent report from SC Magazine from yesterday says that Gregg Steinhafel, CEO of Target, has confirmed that the malware that affected millions of shoppers began on the POS (Point-of-Sale) machines. Here is what he said:

 
"We don't know the full extent of what transpired, but what we do know was there was malware installed on our point-of-sale registers....we removed that malware so that we could provide a safe and secure shopping environment."


Steinhafel went onto say that Target has also taken down 13 phishing sites that were aimed into tricking online shoppers. Also, as of yesterday, impacted shoppers can enroll in Target's free credit monitoring and ID protection services.
 
Finally, Steinhafel went onto say that he wants Target to take the lead in having the US shift to cards that use encrypted chips as opposed  the magnetic strips found on the majority of cards today.

 

 
(Source: Mashable)

 

 
 
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NEXT ARTICLE IN NEWS

After Neiman Marcus, Target breaches, experts speak to bull's-eye on retailers' backs

 

Following the data breach announcement and the rapid change in the pace of sales, the Target team reacted quickly making nimble adjustments to minimize its excess inventory. This quick response allowed the retailer to end the year with a clean inventory position.
 
Moving forward, Target is taking the appropriate steps to reconcile the data breach with its customers. First, it is conducting an end-to-end forensic investigation of processes, systems and personnel to make informed decisions on potential security enhancements. Second, it is accelerating the adoption of advanced chip-enabled technology, investing more than $100 million to equip its stores and to issue Target branded smart chip credit and debit cards.
 
"We have long supported this more secured technology; a broad adoption in the U.S market has been elusive," said Gregg Steinhafel, Target president and CEO. "We believe that recent events will help the industry to reach a tipping point to an accelerated option in the U.S and we are investing to ensure that Target is a clear leader in driving this change."
 
Full Article

Something something barn door and horses.  I guess they are at least trying 🙂

I don't think they have much of a choice in the matter after what happened, they have to do something no matter what, it is the only way to try and get the trust back again.

Nic, isn't this a big issue in the US anyway...the continued reliance on cards with magnetic strips rather than the Chip'n Pin system in use in most of Europe?
 
I presume that it is a matter of cost of (i) getting all those card holders in the US over to Chip'n Pin & (ii) the retailed spending all that money on new kit to read the Chips, etc.  Presumably it will be resisted until such time as some one can show that the cost of the move is cheaper than the cost of the fraud due to the weaker security system...c'est la vie...or should that be...c'est le business? ;)

True, our credit card system is inherently vulnerable.

More money please...On a serious note here I had a Target Debit Card that I was worried about..so now I need to be protected. I used the Target card once at Christmas time to save 5%. Really?

The following article is a update on Target Breach
 
(Target: Expenses Related to Data Breach Higher Than First Thought)
By Mike Lennon on August 05, 2014
 
 
http://www.securityweek.com/sites/default/files/features/Target-Data-Breach.jpg
 
Target Provides Update on Costs Related to Data Breach 
 
Minneapolis-based Target Corporation announced on Tuesday that its second quarter financial results are expected to include gross expenses of $148 million, partially offset by a $38 million insurance receivable, related to the December 2013 massive data breach that rocked the retail giant.
 
According to the company, the expenses include an increase to the accrual for estimated probable losses for what the Company “believes to be the vast majority of actual and potential breach-related claims,” including claims by payment card networks.
 
“Since the data breach last December, we have been focused on providing clarity on the Company’s estimated financial exposure to breach-related claims,” said John Mulligan, Interim President and CEO, CFO of Target Corporation. “With the benefit of additional information, we believe that today is an appropriate time to provide greater clarity on this topic.” 

 
SecurityWeek/ Full Article Here/ http://www.securityweek.com/target-provides-update-costs-related-data-breach
 

That's good information to know.  Once other businesses see the cost, then they can factor that into their security calculations and hopefully increase their security budget.

Response Expenses Continue to Grow Following 2013 Incident

By Jeffrey Roman, February 25, 2015.   http://ef67fc04ce9b132c2b32-8aedd782b7d22cfe0d1146da69a52436.r14.cf1.rackcdn.com/target-breach-costs-162-million-imageFile-7-a-7951.jpg 
Target's breach-related expenses not covered by insurance have totaled $162 million so far, its latest financial report shows. And experts says the breach could continue to have a financial impact for years to come.
 
Gross expenses stemming from Target's data breach in December 2013 have totaled $252 million. But insurance has covered $90 million of that cost. The breach exposed 40 million payment cards and personal information on 70 million customers.
 
Target incurred $4 million in net breach-related expenses for the fourth quarter of 2014, ending Jan. 31, the company announced Feb. 25 in its latest earnings report. For the full fiscal year, Target had $145 million in net expenses related to the breach, which reflects $191 million of gross expenses offset by a $46 million in insurance coverage.
 
Full Article

And Target is leaving Canada I guess they couldn't make it work up here after one year.
 
Daniel

The following article is a update:
************************************

Target tosses US$10 million at victims of breach

19 Mar 2015 at 05:31, Simon Sharwood
 
US retailer target has reportedly agreed to settle lawsuits regarding its 2013 data breach for US$10 million, or up to $10,000 per litigant.
Target was popped in late 2013, when it leaked up to 40 million customer records. The company's since caught a sueball from banks, shed its CEO and burned through $148 million, among other indignities experienced as it tried to clean up the mess.
 On Wednesday US time the company's let it be known, through chats to the likes of Reuters, that it will happily pop $10m into an escrow account so that individuals impacted by the breach can be compensated for their pain.
Target's settlement plan calls for claims to be lodged online and suggest claimants could trouser up to $10,000 apiece.
US courts must approve this settlement before it becomes binding.
 
full article

Payout Reportedly Capped at $67 Million
 
                                      http://ef67fc04ce9b132c2b32-8aedd782b7d22cfe0d1146da69a52436.r14.cf1.rackcdn.com/target-settles-visa-showcase_image-2-a-8483.jpg
 
Tracy Kitten  August 18, 2015
 
Visa and retail giant Target have reached an agreement that reportedly will reimburse card issuers a total of up to $67 million for fraud losses and other expenses tied to the retailer's 2013 breach, which exposed an estimated 40 million credit and debit cards.
 
While The Wall Street Journal, quoting people familiar with the deal, places the value of the agreement at up to $67 million, Visa and Target, in acknowledging an agreement has been reached, have yet to confirm its value.
In a statement provided to Information Security Media Group on Aug. 18, Target states that it reached a settlement agreement with Visa on Aug. 17, after Visa's largest card issuers agreed to the terms of the deal.
 
Full Article
 
 

Target is a good store, hopefully they can recover the losses and stay a
float and their business will thrive