Seeking Alpha

Target's holiday season isn't lacking for drama

  • Stolen Target (TGT -2.1%) credit and debit card information is being sold on underground sites for $44 an account, according to Bank Technology News.
  • The nature of the security breach is very sophisticated and could be a wake-up call for both issuers and retailers, warns security expert Brian Krebs.
  • The company is still hopeful it can unwind the hack to prevent having to cancel and re-issue a huge amount of cards.
  • The impact on Target is still being debated (no big deal, big deal) by analysts, but either way the company is the unenviable position of having to warn customers they need to diligently check their activity for fraud. Target debit card holders with accounts tied to bank accounts have a bigger exposure than credit card customers.
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Comments (15)
  • Clayton Rulli
    , contributor
    Comments (3138) | Send Message
     
    do I get a discount if I buy my own information?
    19 Dec 2013, 01:31 PM Reply Like
  • investingInvestor
    , contributor
    Comments (1817) | Send Message
     
    Certainly, just provide them with your legal name, SSN, address, and phone #. Yuk-Yuk!!!
    19 Dec 2013, 02:15 PM Reply Like
  • TFCAB
    , contributor
    Comments (2019) | Send Message
     
    good one clayton
    19 Dec 2013, 08:03 PM Reply Like
  • MattZN2
    , contributor
    Comments (1052) | Send Message
     
    Interesting. Well, this is why I only use a credit card (or cash, depending), and not a debit card for purchases. The last thing I want is to see my main checking account balance go poof.

     

    I've had to replace the credit card I use for over-the-counter purchases three times in two years now. The last was about a month ago (I wonder if it was related, the lady from my bank said they caught a fraudulent charge and denied it before it even reached my statement). It's not like I use the card for everything... mostly just with the larger chains and I use cash in smaller shops. But I did use that card at Target a few times.

     

    Fortunately replacing a card is painless for me now. I used to have just one card and it was painful to replace it, but now I have two. One is on-file with certain online retailers like Amazon and Apple and a few other places, and the other one i used for over-the-counter purchases. I've never had to replace the one I file with online accounts. Replacing the over-the-counter card is painless (I don't have to reprogram accounts or call my charities, etc). I heartily recommend that everyone go with this system.

     

    -Matt
    19 Dec 2013, 02:43 PM Reply Like
  • thotdoc
    , contributor
    Comments (1887) | Send Message
     
    OK, so law enforcement is not involved not involved with the sites selling the cards?

     

    Or said another way, You can sell stolen data on the net and no one does anything about it?
    19 Dec 2013, 04:02 PM Reply Like
  • minecanary
    , contributor
    Comments (720) | Send Message
     
    Actually the all seeing NSA was able to track the thieves every move. They just decided the heist was small change compared to the reaming the gov't gives the public on a daily basis.
    19 Dec 2013, 08:34 PM Reply Like
  • rasanders22
    , contributor
    Comments (581) | Send Message
     
    They are more than likely tracking it, but if is in a country where the USA government has no authority, then then is not much they can do. Keep in mind that people have been buy and selling drugs, guns, and other illegal items for years online. The FBI and NSA just shut down silk road recently, but I hear its back up.
    19 Dec 2013, 09:47 PM Reply Like
  • phxcrane
    , contributor
    Comments (526) | Send Message
     
    How can this not be a big deal. People will be afraid to use their cards at target. They will shop some where else.
    19 Dec 2013, 04:10 PM Reply Like
  • Argyll
    , contributor
    Comments (896) | Send Message
     
    It could happen anywhere. Target is likely to be more secure than most places after they fix this.
    19 Dec 2013, 08:03 PM Reply Like
  • phxcrane
    , contributor
    Comments (526) | Send Message
     
    I have been trying to log on now for 15 minutes no luck so far. Id say a lot of people checking their accounts. Target as far as I know has not come forward telling anyone their info is now safe.
    19 Dec 2013, 04:22 PM Reply Like
  • Cliff Hilton
    , contributor
    Comments (2221) | Send Message
     
    Not just Target!
    19 Dec 2013, 06:00 PM Reply Like
  • TAS
    , contributor
    Comments (2616) | Send Message
     
    A eureka moment!

     

    Blame Bush.
    19 Dec 2013, 06:04 PM Reply Like
  • vireoman
    , contributor
    Comments (1119) | Send Message
     
    I'm not sure why I should blame Bush for this, but I'm always game when it comes to that guy and his smirking VP.
    19 Dec 2013, 06:45 PM Reply Like
  • maybenot
    , contributor
    Comments (5184) | Send Message
     
    Wait for the dip/correction/sell-off (i.e. fear) and buy TGT.

     

    Then look back 3 years from now and smile. :)
    19 Dec 2013, 09:40 PM Reply Like
  • rasanders22
    , contributor
    Comments (581) | Send Message
     
    I like the way you think.
    19 Dec 2013, 09:48 PM Reply Like
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