Target offering store cardholders credit monitoring after security breach

Target is offering free credit monitoring services for Target credit cardholders after a massive security breach that allowed hackers to access cardholders’ account information of customers who used the cards between Nov. 27 and Dec. 15.

s-RETURN-POLICY-large640The Associated Press reported that up to 40 million Target customers could be affected.

The hackers got access to cardholders’ names, credit or debit card number, and the card’s expiration date and CVV, Target says.

CEO Gregg Steinhafel said in a letter to cardholders Target will offer free credit monitoring services for everyone impacted. “We’ll be in touch with you soon on how and where to access the service,” he said.

“We understand that a situation like this creates stress and anxiety about the safety of your payment card data at Target,” he added. “Our brand has been built on a 50-year foundation of trust with our guests, and we want to assure you that the cause of this issue has been addressed and you can shop with confidence at Target.”

It’s unclear how the breach occurred and what data, exactly, criminals have. Although security experts say no security system is fail-safe, there are several measures stores, banks and credit card companies can take to protect against these attacks.

However, companies haven’t further enhanced security because it can be expensive, the Associated Press reported. And while global credit and debit card fraud hit a record $11.27 billion last year, those costs accounted for just 5.2 cents of every $100 in transactions, according to the Nilson Report, which tracks global payments.

 

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