Breach goes from bad to worse for Target and its customers
Steve Ward, a spokesman for security vendor Invincea, said Target customers should already be on high alert for phishing attacks. The stolen data allows attackers to craft very convincing emails in attempts to pry loose sensitive data.
"Seventy million active email addresses is a treasure trove for cyber criminal. They now have emails they know are active and linked to Target," he said. Where possible, he suggests that individuals with email addresses linked to Target deactivate them.
If the email address is too difficult to change, individuals have to be continually on the lookout for phishing attempts, not just for days, but for months and perhaps years as well, he said.
Credit and debit card information stolen from Target is already being used in new ways. Compromised cards are being marketed online with information on the state, city and ZIP code of the Target store where they were used.
Fraud experts suggest that the location information will likely allow buyers of the stolen data to use spoofed versions of cards issued to people in their immediate vicinity.
Local use of a card makes it more likely that crooks can use it for a longer period of time because fraud detection tools used by banks and other card issuers use locations and frequency of card use to determine potential criminal activity. Banks often decline transactions or require additional authentication only for card transactions that originate from new or unexpected locations.
The breach could be very costly for Target, especially considering the findings of its investigation. TJX and Heartland were hit with similar massive attacks have so far paid well over $100 million in breach-related costs, many in relation to outside investigations.
In the statement today, Target said it expects fourth-quarter sales and earnings to be substantially lower than the results expected before the breach was discovered.
The adjusted earning per share for the fourth quarter is now $1.20 to $1.30 compared to prior guidance of $1.50 to $1.60. Sales during the quarter are now expected to be nearly 2.5% lower than previously expected.
Jaikumar Vijayan covers data security and privacy issues, financial services security and e-voting for Computerworld. Follow Jaikumar on Twitter at @jaivijayan, or subscribe to Jaikumar's RSS feed . His email address is firstname.lastname@example.org.
- NSA used 'European bazaar' to spy on EU citizens
- Target CIO resigns following breach
- Evan Schuman: Mobile IT Roach Motel: Data checks in, but it won't check out
- Sears finds no evidence of data breach -- yet
- Gameover malware is tougher to kill with new rootkit component
- Mobile app for RSA Conference exposes personal data
- UK man charged with hacking Federal Reserve
- Bloomberg clamps down with data-access policies after scandal
- Amazon.com security slip allowed unlimited password guesses on mobile apps
- Huge turnout at RSA shows hackers are winning
Read more about Cybercrime and Hacking in Computerworld's Cybercrime and Hacking Topic Center.
- 15 Non-Certified IT Skills Growing in Demand
- How 19 Tech Titans Target Healthcare
- Twitter Suffering From Growing Pains (and Facebook Comparisons)
- Agile Comes to Data Integration
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- Who's Spying on You? You're aware of the threats of malware to your business but what about the ever-changing ground rules? Cybercriminals today are launching attacks against...
- Pay-as-you-Grow Data Protection: IBM Tivoli's Full-featured Data Protection Suite for Small to Medium Businesses IBM Tivoli Storage Manager Suite for Unified Recovery gives small and medium businesses the opportunity to start out with only the individual solutions...
- Streamline Data Protection with IBM Tivoli Storage Manager Operations Center IBM Tivoli Storage Manager (TSM) has been an industry-standard data protection solution for two decades. But, where most competitors focus exclusively on Backup...
- Simplify and Consolidate Data Protection for Better Business Results Learn about IBM® Tivoli® Storage Manager Operations Center, which provides advanced visualization, built-in analytics and integrated workflow automation features that leapfrog traditional backup...
- Meg Whitman presents Unlocking IT with Big Data During this Web Event you will hear Meg Whitman, President and CEO, HP discuss HAVEn - the #1 Big Data platform, as well...
- The New Way to Work Knowledge Vault This Knowledge Vault focuses on how, in today's increasingly virtual world, it's more important than ever to engage deeply with employees, suppliers, partners,... All Cybercrime and Hacking White Papers | Webcasts