Experian was newly hired to provide customers with a free year of credit monitoring which might make consumers susceptible to identity theft. A free copy of the credit report would be available to consumers and they have time till 23rd to sign up for the service. Experian would provide customers with the protect my alert ID service. Target had also hired Mandiant, a software security company that would help in internal investigation.
It is apprehended that customers might put more pressure on banks as well as credit card companies due to identity theft. People who have reviewed the past data breaches also claim that payment networks such as Visa Inc and MasterCard Inc often charge after cyber security events.
Many companies have agreed to pay huge amounts of fine after their systems were hacked. Innumerable companies are involved in purchase from stores like Target. The bank issues the consumer payment card and another organization called the merchant acquirer” takes care of the payment for the store when the card is swiped. These are looked over by Visa and MasterCard.
A merchant acquirer which is used by Target for monetary transactions is Bank of America Merchant Services. However none of the spokesperson was available for comment. The credit cards for Target group are issued by Toronto’s TD Bank Group.
Cyber cases have increased in today’s world. Accounts are being hacked, data is being manhandled and debit and credit cards are being manipulated. Various cyber cases are being conducted to fight these issues.However, respite is a tale lost in translation.
