What was the target data breach?
The Target data breach in late 2013 was the largest in U.S. retail history and resulted in the exposure of approximately 40 million credit card numbers and the personal information of 70 million customers. Unidentified hackers — thought to be from Eastern Europe or Russia — surreptitiously installed malware into Target’s computer networks.
What factors determine the price of a data breach?
A few factors determine the price of a data breach in the US. Considerations like the company’s response time, legal fees, reputational damage, and level of fault are all considered. While Target had to pay an $18 million settlement, their estimated losses are over $200 million. These losses came primarily due to bad timing.
How did the data breach impact the retail industry?
Overall, the breach enforced many new rules and practices with regards to information security, as both retailers and customers were now aware of the consequences of such 6. CONCLUSION
What is the moral of most data breaches?
The story of most data breaches follows the same pattern. We have read about thousands of data breaches, and the moral of most of these stories boils down to the same thing: The breaches were preventable, but people made blunders. What is quite remarkable about these stories is that they haven’t evolved that much in decades.
Teaching Case Security Breach at Target