Target Stores security breach just the tip of the iceberg

American Thinker ^ | 01/12/2014 | Rick Moran

[SeekAndFind]

Target has increased the estimate for the number of customers exposed in the massive hacking attack between Thanksgiving and December 14. It now appears at least 70 million consumers had their credit cards compromised.

Also, Neiman-Marcus announced that they, too, were victims of a cyber attack over Christmas. And in an exclusive report, Reuters is saying that several other well known retailers were also hacked over the holidays.

Neiman Marcus said an outside forensics firm discovered evidence on January 1 that indicated the retailer had been the victim of a cyber attack. It disclosed the breach nine days later, after another inquiry from Krebs, who was following up on reports about a surge in fraudulent charges traced to the retailer.

Target and J.C. Penney Co Inc. waited more than two years to admit that they were victims in 2007 of notorious hacker Albert Gonzalez, who was accused of masterminding the theft and reselling of millions of credit cards and ATM numbers.

During his trial the companies were represented by lawyers who did not identify their clients as Target and J.C Penney.

Doug Johnson, vice president of risk management policy with the American Bankers Association, said banks and credit card firms like Visa are forbidden from naming merchants that have been breached, unless they disclose it themselves.

[Vaduz]

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