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  • Target Tech Chief Resigns Following Massive Data Breach

    Target Tech Chief Resigns Following Massive Data Breach

    The chief information officer (CIO) of Target Corporation has turned in her resignation following months of a devastating data breach.

    Since 2008, Beth Jacob served as executive vice president of technology services and chief information officer of the retail company. She first started out as an assistant buyer at a store division in 1984. Then, in 2002 she became the director of Target’s contact centers.

    Most recently, Jacob played a major role in overseeing the company’s latest futuristic technology lab in San Francisco.

    According to the Los Angeles Times, Chief Executive Gregg Steinhafel confirmed in a statement Wednesday that they are now looking for a new interim CIO who can “guide Target through this transformation.”

    Target announced during the holidays that “40 million payment card accounts were hacked during the pre-Christmas shopping season, and added later that about 70 million customers may have also had their addresses, phone numbers and other information compromised.”

    Most customers believed that the one to blame for the breach is Jacob.

    Here is an interview featuring Jacob in January 2013:

    Some experts feel that her resignation may have been in response to the ever-changing roles that a CIO has to conform to daily. Not only does the public expect them to supervise technology, but also the security of the company systems now that data hacking is gaining momentum.

    Jacob apparently left because she felt that it was “time for a change,” but some assume that her departure was definitely provoked by public criticism.

    “People are questioning Target’s security and she was the fall guy,” said a New York-based retail consultant.(image)

    Target’s data theft is reportedly the most notorious scandal ever witnessed in retail history.

    “To ensure that Target is well positioned following the data breach we suffered last year, we are undertaking an overhaul of our information security and compliance structure and practices at Target,” he said in a statement, according to the Los Angeles Times.

    The corporation is currently working with Promontory Financial Group, which will help them move forward with a $100 million technology and infrastructure renovation. Target plans to implement payment cards designed with encrypted chips. The company expects this new system to improve future security within their information database.

    The company continues to suffer from a decline in consumer loyalty. Since last week, they have witnessed their profits fall 46 percent and their revenue by 5.3 percent.

    Target’s hacking expenses cost the corporation $61 million, but they’re hoping that insurance will cover most of it.

    Here is Steinhafel’s full statement tweeted by a FOX TV reporter:

    Image via YouTube

  • Target Credit Card Thieves Arrested Crossing The Border

    Two people who have admitted to being involved in the Target credit card breach were arrested on January 19 while crossing the Texas-Mexico border, and authorities say the couple had over 100 stolen credit cards in their possession.

    Officials got a break in the case–which stems from the massive info theft Target suffered during the week between Thanksgiving and Christmas–when several retailers such as Walmart and Toys ‘R’ Us reported fraudulent activity that reached tens of thousands of dollars. Police in McAllen, Texas were able to match two people seen in those stores to a car which was tracked crossing the border soon after, and made a prompt arrest.

    Mary Carmen Garcia Vaquera and Daniel Guardiola Dominguez of Monterrey, Mexico allegedly had 112 stolen credit cards on them when the arrest was made. Authorities believe the duo was selling information by region and targeting stores on Sundays with the cards they had stolen in the hopes that the banks wouldn’t catch on to the fraud right away. They are currently being held on state fraud charges.

    Despite the arrest, federal officials aren’t sure that Vaquera and Dominguez had anything to do with the Target breach and aren’t officially connecting them to that case just yet. An investigation is pending.

    Target made headlines last year when it was announced that hackers had stolen personal info from more than 70 million customers starting on the day before Black Friday and extending through the middle of December. The news caused panic in the consumer world during the busiest shopping time of the year.

    Image via Thinkstock