Target Settles with MasterCard over Data Breach

April 26, 2015

Target has ended a dispute with MasterCard over the 2013 data breach at the its stores. According to CNet, Target will pay up to $19 million to credit-card issuers worldwide.

The money will compensate them for the costs of canceling accounts, creating new accounts and sending out new cards, CNet said. MasterCard is urging cards issuers to accept the deal, and Target has agreed to pay the card issuers by the end of the second quarter.

Target suffered a massive data breach in late 2013 in which 110 million customer records, including 40 million credit-card numbers, were stolen.

After the breach was discovered, Target informed financial institutions about cards that may have been compromised. Issuers, which include banks, credit-card companies and other financial firms, canceled accounts and issued replacement cards with new account numbers.

This deal is only with MasterCard. According to CNet, Target is negotiating a similar agreement with Visa.

http://www.cnet.com/news/target-settles-with-mastercard-for-19m-over-data-breach/

You must login or register in order to post a comment.

ON DEMAND: DevSecOps creates an environment of shared responsibility for security, where AppSec and development teams become more collaborative. With the right training and tools, developers can become more hands-on with security and, with that upskilling, stand out among their peers... however, they need the security specialists on-side, factoring them into securing code from the start and championing this mindset across the company.

ON DEMAND: The insider threat—consisting of scores of different types of crimes and incidents—is a scourge even during the best of times. But the chaos, instability and desperation that characterize crises also catalyze both intentional and unwitting insider attacks. Learn how your workers, contractors, volunteers and partners are exploiting the dislocation caused by today's climate of Coronavirus, unemployment, disinformation and social unrest.

Security Magazine

2020 September

This month in Security magazine, we bring you our 2020 Most Influential People in Security annual report, where we highlight 22 industry leaders, their path to security, careers, goals and guidance for future security professionals. Industry experts discuss the evolution of ransomware, houses of worship security, cybersecurity standards, security careers in investigations and the unifying power of security. Diane Ritchey, past Editor-in-Chief, says goodbye and thank you to our readers.

View More Create Account

Target Settles with MasterCard over Data Breach

Related Articles

Related Products

Report Abusive Comment