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I wonder if the media is highly exaggerating the "massive security breach." I'm in no way suggesting that any security breach isn't serious, but 40 million people? That's more than 12% of the population. Were 40 million people really shopping in Target before the problem was detected and they were all using credit or debit cards? The media is well known for fear mongering and exaggerations.
I wonder if the media is highly exaggerating the "massive security breach." I'm in no way suggesting that any security breach isn't serious, but 40 million people? That's more than 12% of the population. Were 40 million people really shopping in Target before the problem was detected and they were all using credit or debit cards? The media is well known for fear mongering and exaggerations.
It's not 40 million People, it was Swipes.
This incudes anything under the credit/debit card processing including gift cards, prepaid cards, and other electronic payments.
I don't think its out of line when you consider how many million of credit/debit card information was stolen from smaller retailers that never made the news. Target is one heck of a big company so they have a much higher share of shoppers.
"That's in part because U.S. credit and debit cards rely on an easy-to-copy magnetic strip on the back of the card, which stores account information using the same technology as cassette tapes."
"We are using 20th century cards against 21st century hackers," says Mallory Duncan, general counsel at the National Retail Federation. The thieves have moved on but the cards have not."
"In most countries outside the U.S., people carry cards that use digital chips to hold account information. The chip generates a unique code every time it's used. That makes the cards more difficult for criminals to replicate. So difficult that they generally don't bother."
SOURCE:
[url=http://www.startribune.com/business/yourmoney/236930771.html]US credit and debit cards use easy-to-replicate magnetic strip; rest of the world has moved on | Star Tribune[/url]
I don't know what you mean and really don't want to get into an argument about this, so have a Merry Christmas! Yes, it is possible some people used more than one type of card or returned to the store, but every article I've read and the TV news reports I've watched all say "40 million people" were affected. For example, here's a continuation of the article I just posted above about the magnetic strips.
"The breach that exposed the credit card and debit card information of as many as 40 million Target customers who swiped their cards between Nov. 27 and Dec. 15 is still under investigation."
I just never realized that many people shopped in Target stores.
Wow, I just heard from a friend that a LOT of Target employees are TICKED OFF. Basically, Target provides a small employee discount but you can ONLY use the discount if you're paying with cash or a Target debit/credit card. B/c of this rule, a lot of employees sign up for the Target card and now their identity is at risk too. On top of that, she has yet to hear if Target will be doing anything to help out their employees (i.e., provide credit monitoring) and she's not even sure the extra discount Target is offering as a "mea culpa" applies to them.
I don't know what you mean and really don't want to get into an argument about this, so have a Merry Christmas! Yes, it is possible some people used more than one type of card or returned to the store, but every article I've read and the TV news reports I've watched all say "40 million people" were affected. For example, here's a continuation of the article I just posted above about the magnetic strips.
"The breach that exposed the credit card and debit card information of as many as 40 million Target customers who swiped their cards between Nov. 27 and Dec. 15 is still under investigation."
I just never realized that many people shopped in Target stores.
The key words are "as many as". Meaning 40 million swipes could technically be 40 million different people. Or it could be one guy swiping his card 40 million times.
The key words are "as many as". Meaning 40 million swipes could technically be 40 million different people. Or it could be one guy swiping his card 40 million times.
Exactly what I meant. The words they are using are "might" and "could." Do you remember the H1N1 flu scare? The news kept reporting that it "could possibly" be worse than the 1918 flu pandemic. Of course the swine flu is deadly and people need to be informed of any danger to our lives or well-being. I was only saying that numbers are often grossly exaggerated by the media.
I've also heard too much erroneous information from anchormen and women and, when I do, it makes me wonder about everything else. After all, they're only reading a teleprompter. For the sake of brevity, I decided not to write a list, but one I heard recently was about monthly fees and expiration dates on gift cards, which is totally false unless the reporter fell into a coma before Obama signed a new law in 2009. It wasn't part of the news broadcast, just a remark after a report about exchanging gift cards, but it was still wrong.
By the way, what the heck is on that magnetic strip? AFAIK the bank does not put your Soc Sec number on any magnetic strip, but I keep hearing that these thieves might get that from the Target heist. Then they've been talking about the 3 digit security code. I'm not an expert on security, but I worked in retail for many years and, as far as I know, the 3 digit code on the back of the card cannot be transferred when the card is swiped. That's why it's printed in ink. You don't need it when you make a purchase in person and it is only to identity you when you call or make an internet purchase. So reporting that the 3 digit security code was stolen is misleading, but reporters often don't confirm their stories these days.
I'm also trying to figure out why a gift card would give a hacker personal information. I realize the balance of the card can be stolen, but I buy and receive gift cards all the time and the cashier never asks for any information about me or the recipient. Last time I bought one, I just handed the cashier $50 bucks and she swiped the card to put that amount on it. Then I got a receipt with a PIN.
Sorry to write so much, but I realize any security breach is serious and consumers should be watching their bank accounts diligently. I'm was only saying I believe a lot of bad information circulates whenever there's a big story.
I went to my bank and got a new debit card since I had used mine at Target during the period that the breach occurred. There was a long line of people waiting to get new cards, all Target shoppers. I don't know if my card/PIN were stolen, but better safe than sorry.
Does anyone know, if you used a Target Red card, if you cancel that card that means the thieves can no longer access your bank account? Or they now already have access to your bank account info and you need to get a whole new bank card too? Your PIN for the Target card isn't the same as your debit card PIN so I would think once the Red card is cancelled, they would no longer be able to draw from your bank/debit account. (?)
With the hacking time period now revealed to go back before the holidays, and the number of customers affected up to 70 million, Target will be offering credit monitoring for a year for all customers that are affected by this. Watch for announcement of the start of enrollment for that service on their website soon. There will be a 3 month period of time to do that. Of course, don't respond to any emails that purportedly offer help with this or maybe giving a link to a "Target site". Those would be scams, almost certainly.
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Yes, it is possible some people used more than one type of card or returned to the store, but every article I've read and the TV news reports I've watched all say "40 million people" were affected. For example, here's a continuation of the article I just posted above about the magnetic strips. 
