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Data Breach

BUSINESS
September 10, 2008 | E. Scott Reckard, Times Staff Writer
Countrywide Financial Corp. is offering two years of free credit monitoring to customers whose sensitive personal information, including Social Security numbers, allegedly was stolen from the home lender's computer files. In one of the largest data theft cases in years, a former Countrywide employee was arrested Aug. 1 and charged with illegally accessing the firm's computers for more than two years. The information was being sold to mortgage brokers to be used as sales leads, federal authorities said in August.
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BUSINESS
January 27, 2006 | Joseph Menn, Times Staff Writer
The Federal Trade Commission on Thursday hit data broker ChoicePoint Inc. with the largest civil penalty in the agency's history for allowing sensitive consumer information to get into the hands of con artists last year. The commission levied a $10-million penalty on top of $5 million in restitution -- a total that amounts to more than 10% of the company's 2005 profit.
BUSINESS
March 5, 2014 | By Tiffany Hsu
Target Corp.'s head of technology stepped down Wednesday as the company attempts to recover from one of the largest data breaches on record at a retailer. Beth Jacob, who served as executive vice president of technology services and chief information officer for Target since 2008, resigned both posts, Chief Executive Gregg Steinhafel said in a statement. "While we are still in the process of an ongoing investigation, we recognize that the information security environment is evolving rapidly," he said.
BUSINESS
June 24, 2009 | W.J. Hennigan
Retail giant TJX Cos. agreed Tuesday to pay $9.75 million to 41 states including California to settle an investigation of a massive data breach that jeopardized millions of payment card numbers. TJX, the parent company of the T.J. Maxx and Marshalls discount clothing chains, will pay $7.25 million in settlement and investigation costs. In addition, $2.5 million will go to create a data security fund for those states. California's share is $624,393.
BUSINESS
January 29, 2014 | By Richard A. Serrano
WASHINGTON - The Justice Department said Wednesday that it has launched a criminal investigation into the recent cybertheft of more than 110 million Target customers' data, including the credit card numbers of 40 million Americans. "We are committed to working to find not only the perpetrators of these sorts of data breaches, but also any individuals and groups who exploit that data via credit card fraud," Atty. Gen. Eric H. Holder Jr. said during an appearance before the Senate Judiciary Committee.
BUSINESS
December 20, 2013 | By Tiffany Hsu
A day after Target confirmed a massive data breach, Chief Executive Gregg Steinhafel is trying to get customers back into stores during the busy pre-Christmas weekend by extending an offer for free credit monitoring and a 10% discount. Customers are fuming on social media in the aftermath of the disclosure that hackers broke into Target's systems and gained access to some 40 million customer credit and debit card accounts between Nov. 27 and Dec. 15. Steinhafel said in a statement online Friday that “the issue has been identified and eliminated” but acknowledged that the problem “has been confusing and disruptive during an already busy holiday season.” To reassure patrons, Steinhafel said Target will offer free credit monitoring services and plans to be in touch with customers affected by the breach.
BUSINESS
January 10, 2014 | By Ricardo Lopez
Target customers whose information -- name, addresses, phone numbers and email addresses -- was stolen need not have shopped at the retailer's stores during the busy holiday shopping season, a spokeswoman confirmed Friday. The information, said Target spokeswoman Molly Snyder, was collected during the "course of normal business," and could include online shopping.  Friday's latest disclosure by the Minneapolis-based retailer that hackers made away with the data of 70 million additional Target customers shows that the data breach late last year was far larger and broader than previously thought.  Target initially said Dec. 19 that debit and credit card information for 40 million customers was pilfered during the busy holiday shopping season between Nov. 27 and Dec. 15. About a week later, the retailer also reported that the hackers had accessed "strongly encrypted" personal identification numbers when they tapped into the retailer's systems.  The retailer said the theft of the information from up to 110 million customers was not a new breach but was uncovered as part of the ongoing investigation into the theft of millions of customers' credit and debit card information.
BUSINESS
December 20, 2013 | By Chris O'Brien
More bad news for folks who used their credit cards at Target during the holiday shopping season. Many of the 40 million credit cards that the company says were part of the data breach are already for sale on black markets around the world. That report comes from KrebsonSecurity , the website run by cyber-security reporter Brian Krebs, who initially broke the story about the Target breach. On Friday, Krebs posted another story detailing how he had tracked down phony cards made using information that was stolen as part of the Target data breach: STORY: Target data theft fuels new worries on cybersecurity " Credit and debit card accounts stolen in a recent data breach at retail giant Target have been flooding underground black markets in recent weeks, selling in batches of one million cards and going for anywhere from $20 to more than $100 per card, KrebsOnSecurity has learned.
BUSINESS
February 26, 2014 | By Tiffany Hsu
The massive theft of Target Corp. customer data contributed to a huge drop in fourth-quarter profit as the retailer scrambled to win back the trust of consumers and shore up its hobbled payments system. The Minneapolis-based chain reported that profit was nearly halved from a year earlier to $520 million and revenue slid 5% to $21.5 billion. Target also racked up $61 million in expenses related to the hack, though it expects all but $17 million of that to be covered by insurance.
BUSINESS
February 26, 2014 | By Tiffany Hsu
The holiday season was never going to be easy for Target Corp. as it tried to lift foot traffic and keep up with competitors' discounts. But it was the vast data breach at the Minneapolis retailer in the heat of Christmas shopping season that really knocked the Minneapolis-based chain off its feet. And, the company said Wednesday, the hack may continue to have financial repercussions for months to come. Target's net income for the fourth quarter ended Feb. 1 slumped 46% to $520 million, or 81 cents a share, from $961 million, or $1.47 a share a year earlier.
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