Earlier today Target confirmed that as many as 40 million individuals may have had their credit and debit card information stolen after a massive security breach was revealed.
Target’s security systems were breached from the day before Thanksgiving trough December 15. A person who used their card at the retail store or on Target.com may have provided thieves with their:
- Name
- Card number
- Expiration date
- 3- or 4-digit security code.
A spokesperson for the company said there was “no indication that PIN numbers were exposed,” but that still leaves thieves with enough information to make purchases on your behalf.
“If you shopped at Target between Nov. 27 and Dec. 15, you should check your account for any suspicious or unusual activity,” the company said in a statement. “If you see something that appears fraudulent, REDcard holders should contact Target (866-852-8680), others should contact their banks.”
Should We Be Surprised?
Although to security breach has left many shoppers checking their bank statements, it shouldn’t come as a shock that more and more thieves are targeting consumers in the digital realm.
A recent report by the U.S. Bureau of Justice found that losses as a result of identity theft topped $24 billion in 2012, and the average loss per incident was twice as much as property crimes like burglary or theft.
The problem with identity theft is that, unlike a robbery in your home, you probably won’t realize your information has been stolen until it is too late. In fact, according to the Bureau of Justice, the vast majority of identity theft crimes go unsolved because most people don’t report the incident to the police. The Bureau of Justice reported that only nine percent of identity theft victims contacted police in 2012. Most of the time, individuals seek to resolve the issue by contacting their bank or their credit card company, but that rarely results in the thief being brought to justice.
Protect Yourself
As we mentioned in a previous post, there are numerous ways to protect your sensitive information in cyberspace. To avoid becoming a victim of identity theft, we recommend:
- Regularly checking your bank statements for any fraudulent activity.
- Shred personal information and dispose of the trash in a secure location.
- Don’t store your password information on your laptop. If your MacBook gets stolen, so will your passwords.
- Avoid opening or responding to emails from foreign or odd email addresses.
- Use common sense when sites ask for your personal information. Only share your information with trusted or secure sites.
If you think you’ve been a victim of identity theft, or if you shopped at Target in the last three weeks, give your credit card statement a quick check and report any suspicious activity as soon as possible.
Related sources: Pioneer Press, The Atlantic Cities
