Target Customers Not Held Liable For Fraudulent Purchases
Target recently stated that any of its approximate 40 million customers that were affected by the criminal hack involving their credit card/debit card accounts are clear of any fraud liability. The company said there was no clue that the personal identification numbers (used to make ATM cash withdrawals) were affected by the fraud as well as the four-digit security credit card numbers.
Target used the email addresses of its customers to notify them – by email – about the hack. Some customers were also being called by phone about the incident.
Target spokeswoman Molly Snyder said in the email that guests need to understand that getting correspondence from us or from their financial institution does not mean they have been a victim of the attack, or that they will be a victim of fraud. Snyder said the company has added more people to its Internet REDcard account management site to deal with the increase in calls it was getting.
Snyder also said the company has heard very little reports about fraud actually occurring but that Target is keeping a close eye on the situation. She said that affected guests are not going to be held financially accountable for any fraud on their credit/debit card.
Snyder also stipulated four things:
1 – Currently, there is no sign that PIN numbers were impacted, which means customers’ Target and debit cards still have the extra protection layer. Plus, a fraudster won’t be able to visit an ATM using a “fake” card to withdrawal cash.
2 – Currently, there’s no sign that the data includes social security numbers or date of births.
3 – The possible impacted CVV data was on the magnetic strip, not on the card guests use to make online purchases.
4 – Target has contacted all networks – American Express, Discover, MasterCard and Visa – and gave them the affected card numbers of people who could be a victim of fraud. The networks are giving the affected numbers to guests’ financial institutions through a CAMS alert, which allows them to sanction additional fraud monitoring. REDcard holders will get added layers of fraud monitoring and security on top of the powerful fraud monitoring system currently in place.
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And neither will Target even though they are responsible for the breach. Those who will be impacted are those who issue the credit cards. Sure many are big like Capital One or BOA but many are small like local credit unions. These are the institutions that will be harmed and of course the costs will get passed down to all consumers. Target won’t point that out I’m sure.
Hate to be a conspiracy theorist, but this all seems like testing the waters for massivie disenfranchisment of customer monies in the future by the company rather than the criminal. The recent revelations of the NSA and lax laws on the ability of these guys to collect whatever information they want without informing the customer what they have (I’ve tried many times to obtain even minimal backlogged information), means they do not have our interests at heart and only contempt for their customers.
Not just target is responsible for the breach, also major software and internet companies and our own governments. The math is there…information should be MORE SECURE in the internet age than LESS SECURE. All that inevitable stuff spun out of washington is pure hogwash. Our emails, CC#, etc should be massively more secure than the old postal days, provided there was an incentive by hardware and software companies to provide true end-end encyrptation with no backdoors. This is the NSA fault and countless other boobs in the tech and marketing industry.