It’s not clear whether every Target store was affected, but one credit
card issuer says it’s seeing signs of fraud all over the United States, according
to Krebs on Security. You’re not in any danger if you shopped at Target’s
website, or one of the company’s Canadian stores.
Target’s Breach
Target states
hackers have accessed customer’s names, credit card or debit card numbers along
with expiration dates and CVV security codes. Krebs on Security reports that
the thieves accessed data from the magnetic stripes stored on the back of
credit and debit cards.
With the magnetic
stripe data thieves can create counterfeit payment cards. The attackers could withdraw
cash from ATMs if they have PIN data information from debit transactions, Krebs
on Security notes.
The most alarming
thing about this breach is the theft appears to involve tampering with the
payment machines customers use to swipe their cards when making purchases. For the
thieves to compromise the payment terminals on such an incredibly large scale, makes
this breach widely suspicious.
If you find any fraudulent activity, follow these steps:
1.) Call your financial
institution immediately and report any fraud or suspicious activity of any amount.
2.) Report any detected fraud to the
Federal Trade Commission online here or by calling 877-438-4338.
3.) Place a fraud alert on your credit report. Doing so is free
and the alert is active for 90 days. You can always renew the alert. The three
nationwide credit reporting agencies, Equifax, Experian and Transunion.
4.) You can also place a security freeze
on your credit report. This would prohibit a credit reporting agency from
releasing information without your prior consent.
Krebs on
Security comments that automatic fraud detection could fail if the thieves are
able to localize the stolen card details and make purchases near where
cardholders live. The only guaranteed way to avoid fraud is to cancel your card
and get a new card number, but that might not be necessary if you keep a close
watch on your statements. Report even the smallest of activity.
The Secret
Service is investigating the fraud due to the large-scale of the credit card
data hacking. Target has hired a third party forensics firm to investigate. Click
here to read Target's Official Statement
As a
general rule, you should get a copy of your credit report periodically by
visiting AnnualCreditReport.com
or calling (877) 322-8228.
