Page 112 - Strips News Today

Necessary to prevent the cyber attack. in many jurisdictions if not most that will cut off liability so target can use that in negotiating a settlement. in the pr arena this is such a disaster they are going to have to come forth with some type of settlement. the standard of industry is not just the united states. but security globally. in europe they use these chips that are imbedded in cars. in the united states it is old school here, the magnetic strips and that is where they got the data. th...

The atm and withdraw money directly from peoples bank accounts. it also means they can check your balance as well and figure out how much money is at their disposal, too. obviously, target coming out once again denying this, but i will say that if you did shop at target between the end of november and mid-december, it is crucial that you be safe and you check your statements with a fine tooth comb. i cant emphasize that enough. >> thats right. its so scary, the idea that someone would have acces...

Absolutely. say this is a problem. this is an alert. watch out for this. you know, it is very interesting. we as the united states are a little behind. in europe they have -- instead of having the magnetic strips there are chips embedded in the card that make it harder to hack. by 2020 most of the credit card issuers said they would be up to that technology. it will probably come earlier after this. >> people were afraid of shopping on-line thinking it is safer to go to the store, but after this...

>> they dont know yet. the secret service is investigating. the treasury department handles these crimes. target, federal banks working together. they have a forensics team trying to figure out. we dont know who did it yet. we know its very say fa sophis. the magnetic strips are old technology, tapping into that and have a treasure trove of your information. >> incredible. thanks very much. lets get caught up on other stories. susan hendrix has the 360 bulletin. >> president obama commuted the...

Every single retailer would have to buy a new point of sale -- >> this is 45-year-old technology. >> we are using 1960s magnetic strips. like those cassette tapes. >> were all younger than that. >> very behind the times. it might take ans dent like this for us to upgrade our systems. but very, very, very expensive. its the cost of doing business. >> youre a patient man and a patient woman. thank you so much, bob and sharon. all right, the senate is in session right now probably for the last ti...

Trying to figure out. we dont know who did it yet. we know its very sophisticated. the magnetic strips are old technology, tapping into that and have a treasure trove of your information. >> incredible. thanks very much. lets get caught up on other stories. susan hendricks is here with the 360 bulletin. >> president obama commuted the prison sentences of eight people convicted of cocaine offenses calling them hash sentences. one is the first cousin of massachusetts governor deval patrick. reyn...

Check every single day. look, target said when they admitted this happened they have resolved the issue and apologize for the inconvenience, but this was going on until monday. so its not resolved for any people that dont know where their information is. we do know this these hacker chat rooms, there is already chatter and talk how to access this information. i think people should look very closely at their statements, and then call your bank and call target, all of the major banks are aware and...

-- captions by vitac -- www.vitac.com hello, im wolf blitzer in washington. we begin with that massive security breach at one of the large retail chains in the united states during the height of the holiday shopping season. target says, hackers may have stolen credit and debit card information from as many as 40 million, yes 40 million, of its shoppers. the breach happened at target stores not online between november 27th, thats the day before thanksgiving, and december 15th, this past sunday....

Account hacked. the retail giant has confirmed that a security breach left 40 million customers exposed to potential credit and debit card fraud. the secret service is all up in the investigation. for more on this story, we bring in cnbcs mary thompson. >> good morning. or good afternoon, i should say. a busy day for target. customers have flooded the companys credit card website. the website has crashed. the phone line usually used to answer questions about its credit card, that isnt picking up...

You look at their facebook page, they put something up. theres 700 comments right now in response to what they posted. you dont see target responding. >> well, sometimes the pr does not work perfectly and it seems like its not working perfectly for target. 40 million people. how does this happen? >> it happened with magnetic strips on the back of the card. and theres some experts that say you can go over now to microchips but thats more expensive technology so unfortunately the magnet strips wer...