Security: Target’s Card Number Problems
You probably heard all about this story. In fact, you probably ended up with a new debit or credit card because of it. You may even be taking part in the program they’ve put together to help combat it. What this story goes to show is that regardless of a company’s size, anyone can be vulnerable to online security.
What Happened to Target
In December 2013, Target learned that their systems had been hacked and around 40 million customers’ card information was stolen. The hackers ran programs that convinced Target’s firewalls to accept them into the network, and from there the hackers were able to go through the information that Target kept on file. Although the customers that had information stolen were not liable for any charges that were made by the hackers, Target still took a big PR hit during one of the busiest shopping seasons of the year. To alleviate some of the customers’ pains, Target offered all of its U.S. customers a one-year free credit monitoring service. Overall, the security breach ended up costing Target millions of dollars and hurt their reputation.
Hackers and online pirates are getting more sophisticated every day, so when it comes to your security, it’s best not to rest on your laurels, but keep up with them.
Ways to Prevent Situations Like This
Now that Target’s systems have been hacked, there are plenty of people giving suggestions for what Target should have done to prevent this problem. While it’s too late for Target to avoid this scandal, they need to prepare for the future, and other companies should learn from Target’s situation. Here are a few good ideas on how to prevent situations like this.
- Cooperative Security Group
The retail industry is one of the few major industries that don’t have a cooperative security group. These groups, called Information Sharing and Analysis Centers, allow participants to share information that will make security breaches less likely. For more information about this kind of group, read Paula Rosenblum’s article.
- Smart Cards
Having smart cards for Target customers would not have stopped the hackers that attacked Target, but it may have protected Target’s customers a little better. Smart cards have a computer chip in them that’s more advanced than the magnetic strip that most cards have. This would have given customers one more level of protection by making it difficult for the hackers to make fake cards.
- Update Security Software Often
While Target did have firewalls and other cyber security measures in place, they need to account for ever-evolving cyber criminals. Cyber criminals are becoming more sophisticated and cunning, and this means that the security software that companies use needs to be up to date and top of the line.
The number one thing to take away from Target’s unfortunate situation is that any business—particularly those that store personal information that thieves can use to make money—is susceptible to online hacking. Keep your security strong and put every roadblock in between a hacker and the information they want.