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Target says 70 million affected in data breach

By Michelle Kapusta,

Target Corp. has said that last month’s major credit card data breach affected 70 million of its customers.

According to NBC News, the revelation is nearly double than what the company originally thought, making it one of the largest security breaches of its kind.

The breach happened during the busiest time of the year, when the retail stores were packed with holiday shoppers. Personal information, including consumers’ phone numbers, email and mailing addresses were stolen in the breach.

“I know that it is frustrating for our guests to learn that this information was taken and we are truly sorry they are having to endure this,” said Gregg Steinhafel, chairman, president and chief executive officer, Target, in a statement on its website. “I also want our guests to know that understanding and sharing the facts related to this incident is important to me and the entire Target team.”

Of course, news of the breach did not sit well with the retail giant's customers and they have taken their shopping elsewhere.

Reuters reported that the company’s shares were down 1.5 percent at $62.40 before the opening bell on Friday.

 

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