Target Inc. Is Still a Liability Landmine

[InfoSec News <alerts () infosecnews org>]

http://www.fool.com/investing/general/2014/03/19/target-inc-is-still-a-liability-landmine.aspx

By Rich Duprey
The Motley Fool
March 19, 2014

Three months have passed since the massive data breach at Target (NYSE: 
TGT) ended, and though the retailer continues to plug away, investors 
should be cautious treading here, because there's still a massive 
liability IED waiting to detonate -- and it could blow up anytime now.

As is all too well known now, for several weeks in November and December, 
hackers had free rein to access, steal, and sell sensitive customer data 
before being discovered and shut down. Some 40 million people -- and 
possibly as many as 110 million -- were potentially compromised (I should 
know -- I was one of them). What is only just coming to light, however, is 
the extent to which all of this was preventable. And because of that, 
Target's liability in this financial and public-relations disaster is as 
yet incalculable.

Stuff happens. Hackers will hack, and every level of defense erected will 
eventually be overcome. From Target to Wal-Mart and J.C. Penney to BJ's 
Wholesale Club, all their systems have been hacked at one time or another. 
Even AT&T had an incident years back, and though it's unpleasant and 
corporations need to implement industry best practices to protect their 
customers' data, we almost willfully acknowledge that at some point we may 
see our information compromised. Call it a hazard of doing business in the 
modern digital age.

What we don't sign onto, however, is a company cavalierly handling our 
data, or being more concerned about how its reputation will look instead 
of rectifying the problem. TJX (NYSE: TJX) was taken to task several years 
ago, when it suffered a data breach and waited a whole month before 
notifying customers, costing the retailer more than $100 million in 
investigation costs, security system upgrades, customer communications, 
and legal fees, as well as some $1.6 billion over the lifetime of the 
case.

[...]



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