Target reports few incidents of fraud after data theft

US retailer Target, which revealed this week that some 40 million customers' credit and debit cards may have been compromised, said Saturday that few incidents of fraud had occurred.

The popular chain store announced Thursday that hackers broke into its payment system between November 27 and December 15, stealing debit and credit card data during the hight of Christmas shopping.

Among the information potentially pilfered was the name, card number, expiration date, and three-digit security code on the back of the cards.

A Target spokesperson reported that the store was nonetheless "seeing low incidences of fraud."

And the mega chain extended a 10 percent discount on any single purchase to shoppers in US stores on Saturday and Sunday.

Company CEO Gregg Steinhafel appeared in a video posted on a company website Friday in which he explained the security breach, apologized for delays at company call centers, and offered the discount to shoppers.

Target warned clients to check their bank accounts and is providing free fraud monitoring.

The retailer is the third-largest chain store in the United States after Wal-Mart and Kroger, according to Stores Media, a branch of the National Retail Federation.


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© 2013 AFP

Citation: Target reports few incidents of fraud after data theft (2013, December 22) retrieved 16 October 2019 from https://phys.org/news/2013-12-incidents-fraud-theft.html
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