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Thread: Target Confirms Major Card Data Theft during Thanksgiving

  1. #21
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    Re: Hope you didn't go to Target on Black Friday

    Quote Originally Posted by MMC View Post
    Mornin' Pete. Not really.....this is the first time that 40 million people are affected or numbers that just blow the top off of anything else we had..
    Not really...it happens all the time. Just this year 5 men were jailed for 200+ million dollars in credit card fraud done on mostly US credit cards. Or this case from 2008..

    11 Charged in Massive Credit Card Fraud Case | Fox News

    The US is regularly hit by breaches to its credit cards, most are "minor" but there are a lot of them, but there are some big ones around. I saw an interview with a security expert who broke the Target story and he said that he was on his 5th credit card this year due to suspected fraud. The people in the studio (Bloomberg) also told of them being hit by fraud and the CC company shrugging it off and replacing the money gone.

    It all boils down to the fact that the US CC system is outdated and flawed and easily hacked.

    Someone is going to get hit and they know it. They can duplicate any of these peoples info into a card or credit line. Or who knows what else.

    Its definitely a major screw up. Someone has already filed on Target.
    No, no one screwed up but the credit card industry that lets bean counters run the show instead of security experts. This comment from the following case... says it all..

    U.S. indicts hackers in biggest cyber fraud case in history | Reuters

    Prosecutors said he charged $10 for U.S. cards, $15 for ones from Canada and $50 for European cards, which are more expensive because they have computer chips that make them more secure.
    PeteEU

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Can we please move to chip and pin already? Sheesh I hate agreeing with Pete even a little bit.

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Update: This morning they are saying.....that they have discovered new cards of peoples identity stolen, already overseas. They have stolen cards on sale over the net already. That they believe the hackers were from overseas.


    Target probe eyes overseas hackers; stolen cards for sale online


    Black Friday madness

    Investigators believe that overseas hackers were responsible for the cyber attack on U.S. retailer Target Corp that compromised up to 40 million payment cards during the first three weeks of the holiday shopping season, a person familiar with the matter said on Friday.

    The person, who was not authorized to talk publicly about the matter, declined to say how the hackers got in or where investigators believe they are based, saying investigators don't want to show their hand to the criminals.

    Meanwhile the blogger who first broke news of the breach, Brian Krebs, reported that data stolen from Target had begun flooding underground markets that sell stolen credit cards.

    KrebsOnSecurity.com reported on Friday that cards stolen from Target were being offered at "card shops" for rates starting at $20 each and going to more than $100.

    Target has said that hackers accessed data on up to 40 million payment cards over 19 days through Dec 15 in the second-largest retail breach in U.S. history. It is not known who is behind the attack or how they accessed Target's network.....snip~

    Target probe eyes overseas hackers; stolen cards for sale online

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by MMC View Post
    Update: This morning they are saying.....that they have discovered new cards of peoples identity stolen, already overseas. They have stolen cards on sale over the net already. That they believe the hackers were from overseas.


    Target probe eyes overseas hackers; stolen cards for sale online


    Black Friday madness

    Investigators believe that overseas hackers were responsible for the cyber attack on U.S. retailer Target Corp that compromised up to 40 million payment cards during the first three weeks of the holiday shopping season, a person familiar with the matter said on Friday.

    The person, who was not authorized to talk publicly about the matter, declined to say how the hackers got in or where investigators believe they are based, saying investigators don't want to show their hand to the criminals.

    Meanwhile the blogger who first broke news of the breach, Brian Krebs, reported that data stolen from Target had begun flooding underground markets that sell stolen credit cards.

    KrebsOnSecurity.com reported on Friday that cards stolen from Target were being offered at "card shops" for rates starting at $20 each and going to more than $100.

    Target has said that hackers accessed data on up to 40 million payment cards over 19 days through Dec 15 in the second-largest retail breach in U.S. history. It is not known who is behind the attack or how they accessed Target's network.....snip~

    Target probe eyes overseas hackers; stolen cards for sale online
    Good morning MMC. Oh boy, not good. I've been keeping a close eye on my CC's. never use debit because of this type of thing. I hope this doesn't get too big.

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by Montecresto View Post
    Good morning MMC. Oh boy, not good. I've been keeping a close eye on my CC's. never use debit because of this type of thing. I hope this doesn't get too big.
    Mornin' Monte. I am the same way. But now it is getting bad. These guys are flipping them into real credit cards. Visa and Mastercards. From a Store Card. This weekend Target is giving out a discount. I am thinking they are laying a trap for them at the same time. Didn't take them long at all.

    My wife went there and shopped. So told her to keep an eye out and let the bank and Trans Union know.


    Target Offers Discounts As Investigators Look At Overseas Hackers.....

    Target Corp. is offering its 10 percent employee discount to shoppers this weekend following a massive breach of its customers’ credit and debit card information.

    Meanwhile, investigators believe that overseas hackers were responsible for the cyberattack that compromised up to 40 million payment cards during the first three weeks of the holiday shopping season, a person familiar with the matter told Reuters.

    “Our guests’ trust is our top priority at Target and we are committed to making this right,” Target CEO Gregg Steinhafel said in a statement on Target’s website Friday.

    The offer is limited to one in-store transaction per guest. Target has also pledged free credit monitoring for affected customers.

    Government investigators don’t believe the overseas hackers had inside help, according to Reuters’ source, who was not authorized to talk publicly about the matter.

    The source declined to say how the hackers got in or where investigators believe they are based, saying investigators don't want to show their hand to the criminals or afford them a chance to destroy evidence.

    She said the stolen information was limited to data stored on the magnetic strip.

    The hackers did not obtain PIN numbers used to access ATMs or the three or four-digit security codes that are printed on cards to verify online purchases, Snyder said.

    She said Target has provided exposed card numbers to Visa, MasterCard, Discover and American Express. Those companies are in turn providing the information to the financial institutions that issue them.....snip~

    Target Offers Discounts As Investigators Look At Overseas Hackers

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by Sherman123 View Post
    Can we please move to chip and pin already? Sheesh I hate agreeing with Pete even a little bit.
    Mornin' Sherman. Looks like we wont be doing it anytime soon.


    Why credit hacks will keep happening




    But chip-and-PIN cards aren't going mainstream in the United States anytime soon. At $1 to $2 per card, they're about 10 times more expensive for banks to produce than magnetic stripe versions. Merchants would also need to upgrade their point-of-sale systems -- an expensive proposition.

    That trade group hopes the shift to chip-and-PIN will be underway by 2015, but others say 2018 is more realistic. Some banks, such as Chase (JPM, Fortune 500) and Citi (C, Fortune 500), already offer the latest chip-and-PIN cards, but they're mostly marketed to customers who frequently travel abroad.

    The problem is that banks and credit card companies have little motivation to change the current system, said Anisha Sekar, who reviews credit cards for finance site NerdWallet. Financial institutions earned $41.2 billion from credit card swipe fees last year, according to advisory firm Sonecon. Meanwhile, they lost just $5.33 billion to fraud, according to payment industry newsletter The Nilson Report.

    "Credit card companies don't have much incentive to make cards safer," Sekar said.....snip~

    Why credit hacks will keep happening - Dec. 20, 2013

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by Sherman123 View Post
    Can we please move to chip and pin already? Sheesh I hate agreeing with Pete even a little bit.
    Can you speak to that some more, thanks.

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    Re: Hope you didn't go to Target on Black Friday

    Quote Originally Posted by Summerwind View Post
    Target holiday cyber breach hits 40 million payment cards | Reuters



    Good thing private sites are so much better than the government ones.
    I knew that was coming...lol!
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by Montecresto View Post
    Can you speak to that some more, thanks.


    The Good news here I guess.....is we haven't had a lot of members saying they were out using the card.

    The real problem are those Debit cards. At least we have some thing s up that can help people out.


    Debit vs. credit cards: Which is safer to swipe?

    While the tens of millions of Target shoppers who had their credit and debit card information stolen likely won't be on the hook for any fraudulent transactions that may occur, debit card users could face much bigger headaches than credit card users.

    That's because debit and credit cards are treated differently by consumer protection laws. Under federal law, your personal liability for fraudulent charges on a credit card can't exceed $50. But if a fraudster uses your debit card, you could be liable for $500 or more, depending on how quickly you report it.

    "I know people love their debit cards. But man oh man, they are loaded with holes when it comes to fraud," said John Ulzheimer, credit expert at CreditSesame.com, a credit management website.

    Yet, if a crook uses your debit card, not only can they drain your bank account, but it can take up to two weeks for the bank to investigate the fraud and reimburse your account.

    "In the meantime, you might have to pay your rent, your utilities and other bills," said Beth Givens, director of the Privacy Rights Clearinghouse. The organization recommends that consumers stick to credit cards as much as possible.....snip~

    Debit vs. credit cards: Which is safer to swipe? - Dec. 20, 2013

  10. #30
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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    The worst part of this hacking may not be known til later. Someone could open other credit accts using your info. Now that's scary.

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