Target to pay out 19 million to MasterCard in data breach from 2013
Posted by: Timothy Weaver on 04/17/2015 10:17 AM
[
Comments
]
Target Corp has come to terms with the institutions that issued MasterCard in a settlement from the breach in 2013.
The company has agreed to pay 19 million to the institutions. The settlement covers the cost that MasterCard incurred when it was forced to reissue cards to the customers whose personal information, such as email addresses and telephone numbers were stolen.
Target said at least 40 million credit cards were compromised by the breach. It further indicated that as manyas 110 million email addresses and telephone numbers were compromised.
The payments are on condition of acceptance by at least 90 % of the victims.
The Wall Street Journal reported on Tuesday that Target is still in negotiations with financial institutions that issue Visa-branded cards.
Source: HuffingtonPost
The company has agreed to pay 19 million to the institutions. The settlement covers the cost that MasterCard incurred when it was forced to reissue cards to the customers whose personal information, such as email addresses and telephone numbers were stolen.Target said at least 40 million credit cards were compromised by the breach. It further indicated that as manyas 110 million email addresses and telephone numbers were compromised.
The payments are on condition of acceptance by at least 90 % of the victims.
The Wall Street Journal reported on Tuesday that Target is still in negotiations with financial institutions that issue Visa-branded cards.
Source: HuffingtonPost
Comments
