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Stolen Target credit cards hitting black market

Target credit card attack sees consumers' card details hitting the black market (NYSE:TGT)
| Business, Financial & Legal News | Posted: Dec 22, 2013 1:31 am

Major retailer Target is under fire after 40 million customers have been affected by a credit and debit card security threat, as some account information has hit the open market.




An unnamed bank had its security team purchase back stolen account information of its customers from an online forum, with account information available on sometimes sophisticated online trading places. It seems that credit cards were the main focus of the breach, with Target claiming there hasn't been impact to debit card PIN numbers.


This is a frustrating situation for Target, banks, and consumers - banks are hesitant to issue new cards, due to the high price ($3-$5 per card, on average), while customers are worried about their financial security.


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