What exactly happen?
Over 40 million credit cards and debit cards that were swiped at a US Target store may have been exposed. The stolen data includes customers’ names, credit card debit card numbers, expiration date and the security code.
What was the impact from this happening?
The Impact from the data breach was customer information was stolen and card numbers.
What was the monetary loss?
Each cards that was stolen was taken 18-37 dollars out of each card stolen. Target lost 46 percent in profit after the data breach. Target will spend 200 million on costs of to credit unions and banks for reissuing 21.8 million card to ...view middle of the document...
How did it happen?
A few days before thanksgiving a hacker installed malware in Targets security and payment system designed to steal every credit card used at any US stores. Event time the customer swiped the card it would capture the numbers and stored it on a Target server commandeered by the hackers. Six months earlier the company began installing a $1.6 million malware detection tool made by the computer security firm Fire Eye (FEYE), whose customers also include the CIA and the Pentagon. Target had a team of security specialists in Bangalore to monitor its computers around the clock. If Bangalore noticed anything suspicious, Target’s security operations center in Minneapolis would be notified. On Saturday, Nov. 30, the hackers had set their traps and had just one thing to do before starting the attack: plan the data’s escape route. As they uploaded exfiltration malware to move stolen credit card numbers—first to staging points spread around the U.S. to cover their tracks, then into their computers in Russia—Fire Eye spotted them. Bangalore got an alert and flagged the security team at Target. But Target took no action. Target stood by and as the 40 million credit cards got stolen.
What could have been done to avoid it?
Target invested money in installing malware ton there system. Fire Eye gave Target the sirens of what was happening. How it could have been avoided is taking the action when fire eye gave them the red flag.