Target Could Be Liable For $3.6 Billion Due To POS Terminal Hacking

[Initech]

Target said on Friday that it is actively partnering with the United States Secret Service and the Department of Justice on the ongoing investigation into the malware that affected Target’s point-of-sale system in U.S. stores. The company can’t say anything further, as the Secret Service wants the details of the forensics and investigation under wraps.

"We take this crime seriously. It was a crime against Target, our team members, and most importantly, our guests. We’re in this together," said CEO Gregg Steinhafel days ago. "We recognize this issue has been confusing and disruptive during an already busy holiday season. We want to emphasize that the issue has been addressed and let guests know they can shop with confidence at their local Target stores."

According to SuperMoney, Target may be facing a fine of $90 for each cardholder’s compromised data, equaling a hefty if not scary $3.6 billion USD liability. That’s in addition to civil litigations, fines from banks and credit card institutions, the cost of re-fortifying its network and related security evaluations, and more.

http://www.tomshardware.com/news/target-security-hacking-fines-3.6-billion,25516.html

[Brigid]

2. Now if only the banksters could be held accountable for *their* crimes.

[WillyT]

3. Oh... I'm Sure The "Government" Will Accept... 1% Of That

Just sayin...