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Abstract

On December 19, 2013, the retailer Target announced that unauthorized third parties had gained access to its customer payment information. While Target originally estimated that the security breach affected 40 million of its customers, a subsequent investigation revealed that anywhere from 70 to 110 million people—almost one in three Americans—may have had their sensitive payment information stolen. In response, the retailer offered free credit monitoring services and assured affected customers that they would not be responsible for fraudulent charges made with their payment information.

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