Target to Change Security Policies and Pay $10 Million to Settle Data Breach Lawsuit

U.S. District Court Judge Paul Magnuson has indicated that he will grant preliminary approval of a 97-page settlement agreement between Target and class-action plaintiffs.  Under the settlement, Target will pay $10 million to compensate injured customers, with court documents suggesting as much as $10,000 for a victim. In total, 42 million shoppers had their credit or debit information stolen, and 61 million had personal data stolen from November 27 through December 18, 2013. The settlement also requires Target to change its security policies within 10…
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More Credit Card Security On the Way

There has been a spike in the number of reported credit card breaches in recent days, including the most well-known of them all, Target, which led to the eventual resignation of its Chief Information Officer. Now, the California Department of Motor Vehicles has reportedly experienced a possible breach of its online payment system. It has become clear that the current security measures are insufficient to protect consumers and the corporate entities catering to the credit card consumer. In this regard, both Visa and MasterCard have…
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