The Target Hack Proves That Liability Needs a Rethink

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1Q 2014 | IN-1018464

 

The Effects of the Target Hack Are Still Being Felt

NEWS


Thanks to major media attention, the world is now well aware of the U.S. Target hack that happened at the back end of 2013 and the potential impact on card holders who fall victim to having personal and financial details compromised.

Affecting up to 40 million payment card details and the personal information of up to 70 million Target customers, the Target breach is considered one of the worst data breaches ever committed worldwide. The question now is if the Target breach taught the U.S. banking or merchant community any lessons and how, if at all, they can act to avoid a similar scenario in the future.

Reactions Thus Far

IMPACT


Some of the top financial institutions in the United States have taken swift action. The Consumer Bankers Association ...

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