Target CFO to get Senate grilling


Target (TGT -0.6%) CFO John Mulligan will face questioning from a Senate committee on February 4 on the data breach at the company.

The committee will also hear from the Secret Service and the FTC.

Though Mulligan will likely be grilled over what the retailer knew and when, the larger story could be the gaining momentum for a data security bill that would advance the use of smartcards in the U.S. to replace magnetic strips.

Related: The NRF calls for use of smartcard technology

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Comments (8)
  • BlueOkie
    , contributor
    Comments (10632) | Send Message
     
    If this were just a Target problem, it would be simple. It is far greater than that. I see chips coming in cards - shortly
    23 Jan 2014, 01:03 PM Reply Like
  • tomlos
    , contributor
    Comments (1299) | Send Message
     
    How do we make money from that? Who is the play there, any ideas?
    23 Jan 2014, 01:25 PM Reply Like
  • popeye333
    , contributor
    Comment (1) | Send Message
     
    NCR and VeriFone make most of the Point of Sale (POS) systems used by retailers. These, as well as ATMs (NCR and Diebold), would need upgrading to work with smartcards.
    23 Jan 2014, 03:19 PM Reply Like
  • Portage, MI
    , contributor
    Comments (200) | Send Message
     
    This breech took place at Target. Target has already accepted responsibility. You know (the government knows) these corporations have deep pockets ($$$). Government looking for another excuse to collect another penalty / fine for , maybe $1,000,000. or 10,000,000., or $100,000,000. ya ya that's it $100,000,000. Just don't mention anything about redistribution of income, wealth redistribution, or entitlement program funding.
    23 Jan 2014, 04:23 PM Reply Like
  • BlueOkie
    , contributor
    Comments (10632) | Send Message
     
    Neiman Marcus was hit first! Target is just bigger
    24 Jan 2014, 10:24 AM Reply Like
  • DianeLee
    , contributor
    Comments (368) | Send Message
     
    Makes much more sense for grandstanders, including DOJ, to go after the hackers in a very serious way. Seem to be penalizing the victim here.
    24 Jan 2014, 09:09 AM Reply Like
  • Anaroch
    , contributor
    Comment (1) | Send Message
     
    It is simple, companies and consumers gave been trusting their money to obsolete technology. The US WILL GO TO NEXT GENERATION TECHNOLGY.

     

    Read up on INFENEON AG, they have the core technology for the future.
    24 Jan 2014, 09:58 AM Reply Like
  • BlueOkie
    , contributor
    Comments (10632) | Send Message
     
    This was about a Russian kid wanting to make money by selling the program for $2,000. We'll go to chip technology next.
    24 Jan 2014, 10:25 AM Reply Like
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