We talked recently about the holiday troubles of Target Brands, Inc. For several weeks after Thanksgiving and into December, the retailer suffered a data breach that exposed the financial information of approximately 40 million customers in the United States to hackers.
In a press release in late December, Target admitted personal identification numbers (PIN) were harvested along with other information during the data breach. Target had previously maintained that PIN information was not stolen when hacking software was installed on the retailer’s credit card swiping devices.
In the press release, Target states that the PIN data was strongly encrypted and expresses confidence that the “PIN numbers are safe and secure.”
The data breach is the second largest data theft in U.S. history. The stolen credit card information is already being sold on the black market, where a single credit card sells for $100 and can be used to make counterfeit cards. In response, some banks are placing caps on purchases or canceling cards used at Target and are issuing new cards as a precautionary measure.
Investigation into the data breach continues as Target, the financial industry and consumers work to protect themselves. Seek legal advice in North Carolina if you are financially injured through the negligence of others.