Seeking Alpha

Hackers attacked a number of retailers, not just Target

  • Major retailers other than Target (TGT) were the victims of cyber-attacks on customer credit card data during the holiday season, with Reuters reporting that hackers breached at least three well-known chains using methods similar to those used on Target.
  • However, as is often the way in the sector, the companies involved have yet to disclose the assaults.
  • The attacks are in addition to one on Neiman Marcus. The luxury retailer said on Friday that it is looking into the theft of data from customer payment cards, although the luxury department store doesn't know how many people have been affected.
  • Gartner analyst Avivah Litan says she learned about a separate series of beaches going back to a few months before Thanksgiving. These could have been used as trial runs for the big assault on Target, which said on Friday that the data of up to 70M people may have been stolen, not the 40M that was previously disclosed.
  • ETFs: XLY, XRT, VCR, RTH, RETL, PEJ, IYK, FXD, PMR, FDIS, UGE, RCD, PEZ, SZK, PSCD
Comments (19)
  • AZ Desert Trader
    , contributor
    Comments (232) | Send Message
     
    beaches? LOL
    12 Jan, 07:36 AM Reply Like
  • al roman
    , contributor
    Comments (4613) | Send Message
     
    Get these hackers and publicly humiliate them, they cause business a lot of time and wear and it is not funny at all.
    12 Jan, 08:11 AM Reply Like
  • SoldHigh
    , contributor
    Comments (1000) | Send Message
     
    The hackers are like cockroaches - take out one, and two more appear.

     

    I think the answer is much better security than what's currently in place, which is easier said than done. Also, companies whose systems are breached need to be responsible for damages caused- that will be the financial motivation required for them to invest in more secure systems.

     

    Oh, and consumers might consider paying with non-swipable cash.
    12 Jan, 12:05 PM Reply Like
  • al roman
    , contributor
    Comments (4613) | Send Message
     
    Symantec,Msft & another,it can be a pain but works.
    12 Jan, 12:10 PM Reply Like
  • SanDiegoNonSurfer
    , contributor
    Comments (2569) | Send Message
     
    Brian Krebs is already doing that:
    http://read.bi/1eyHiVv
    http://read.bi/1a0AVgH
    12 Jan, 12:51 PM Reply Like
  • VictorHAustin
    , contributor
    Comments (793) | Send Message
     
    The problem lies with the credit card companies and the puppy dog Congress that lets them write the laws. The issuers accept no liability while refusing to permit basic security in the card system design. All liability is shifted to merchants along with an unbelievable list of security requirements but zero collaboration, resources, or enabling structural changes.

     

    The "password" for a credit card is embossed in plastic on the face of it. There is zero factor authentication. Approval of a card transaction is not approval at all; it is simply a decline to refuse responsibility at that step, reserving it for any later time.

     

    It will be my great pleasure to see Google, Apple, eBay, and Amazon render credit cards as irrelevant as checks. They have utterly failed to notice, much less to keep up, with technological advances.
    12 Jan, 01:32 PM Reply Like
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    bitcoin might do that actually. and "muy rapido." the problem is identity theft and how "you" are traced as you move throughout the network. the source data is the card in wallet "following you" as it were as spend...or save. this can become a national security function if the money itself gets out of control. the simplest solution is to back your money with gold and be done with it. "peace of mind" instantly for everyone. the price of gold does seem to be "hovering" around 1200-1300 an ounce. silver at around 20. i find nothing wrong with those numbers.
    12 Jan, 11:22 PM Reply Like
  • zenoizen
    , contributor
    Comments (9) | Send Message
     
    Seventy million people's data, with more victims to be revealed. The population of the USA is 317 million. So, is it safe to estimate that almost every American who has a credit card has been affected?
    12 Jan, 10:26 AM Reply Like
  • al roman
    , contributor
    Comments (4613) | Send Message
     
    I do listen and i'm glad,the briefs are ruthless but a good financial adviser and officer want's 0 incidence on their record,get these guys.
    12 Jan, 11:37 AM Reply Like
  • hotmix
    , contributor
    Comments (63) | Send Message
     
    Yes I agree Publicly announce those who are responsible place a picture of them on line or in the newspaper ,where ever they might be. I just hope that we do hear who it was,rather than "Nothing"
    12 Jan, 12:43 PM Reply Like
  • Joe2922
    , contributor
    Comments (406) | Send Message
     
    Any hacked co. should reveal it immediately! That could be construed as material info which is required to be released by the SEC. For the sake of those victimized it's a moral and an ethical obligation.
    12 Jan, 12:54 PM Reply Like
  • VictorHAustin
    , contributor
    Comments (793) | Send Message
     
    The NTSB model would be appropriate. An independent board of experts does forensic post mortem, all details are published, and recommendations are made.

     

    The credit card companies have no liability. How many news stories have you seen that even mention Visa or MasterCard?
    12 Jan, 01:38 PM Reply Like
  • frrizzo380
    , contributor
    Comments (573) | Send Message
     
    They are not hackers they are computer criminals. The media has stolen the word. Jobs, Gates, and Wozniak are some well known true hackers.

     

    Definition: Hacker = One who is proficient at using or programming a computer.

     

    To hack = To code.

     

    Sentence: I stayed up all night hacking and completed the project.
    12 Jan, 04:06 PM Reply Like
  • sethmcs
    , contributor
    Comments (3078) | Send Message
     
    My data was not breached. I use cash. It ain't heavy and it does't know all your business.
    12 Jan, 05:02 PM Reply Like
  • Bouchart
    , contributor
    Comments (755) | Send Message
     
    Same here. Paying with a credit card versus cash saves what, thirty seconds at checkout? Not worth the risk.
    12 Jan, 06:35 PM Reply Like
  • Mike Veracity
    , contributor
    Comments (10) | Send Message
     
    Could this happen if they accepted payment in Bitcoin? I don't think so because you don't have to give any personal information to buy Bitcoins except if you buy from banks or an exchange. On the other hand, if these hackers are so smart they may just be able to directly hack your Bitcoins out of your wallet but that doesn't seem likely, at least not yet. Trying to keep up .............
    12 Jan, 11:03 PM Reply Like
  • Rich in NJ
    , contributor
    Comments (28) | Send Message
     
    We need to enlist our best tech minds to devise a system so that the risk of future breaches is reduced.
    12 Jan, 11:20 PM Reply Like
  • vincey
    , contributor
    Comments (2) | Send Message
     
    use less credit cards. maybe there will be some upside for the nation if people stop spending money they don't have. I know that will open a can of worms but maybe it will close pandora's box.
    12 Jan, 11:59 PM Reply Like
  • al roman
    , contributor
    Comments (4613) | Send Message
     
    Vin.
    Welcome to SA,Debits safer.
    13 Jan, 05:26 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|