If your credit card information was compromised, would it make you feel better to know you were among 40 million others? We wouldn’t either. Sadly, that’s the way 40 million of us who shopped at Target in the 3 weeks following Thanksgiving are feeling today.
Late yesterday, the Secret Service confirmed they were investigating this colossal breach.The data breach itself, is said to have occurred around the time of last month’s Black Friday and the Secret Service offered, “(the situation) potentially involve(s) millions of customer credit and debit card records.”
Target said it notified authorities once they were informed of the unwanted and unauthorized access. Apparently the criminals gained duplicate data from the magnetic strips of shoppers’ cards, allowing them to counterfeit and potentially wreak havoc in myriad other ways. With PIN numbers in tow (if they were able to garner those as well), it would allow the thieves to actually withdraw cash from ATMs.
Mad at Target?
We’re not. But we do feel sorry for them and their Customers. However, this matter should not be shrugged off. If you haven’t thought about it before, physical and cybersecurity should be paramount to business operations in 2014.
If you would like some assistance in tightening your business security at your points of sale, Newtek can help process credit credit cards with new EMV terminals that can help to eliminate this risk.