Shop at Target between Nov. 27 & Dec. 15 and use your plastic? Better read...

I have read that all debit and credit cards used in store at Target between November 27 and December 15 may be at risk due to them getting Hacked.

From PCMagazine http://www.pcmag.com/article2/0,2817,2428549,00.asp

Quote :

Target on Thursday confirmed that it was hacked in a breach that could affect approximately 40 million credit and debit card customers.

Target said the breach, first reported by Brian Krebs, affects those who used credit or debit cards in U.S. stores between Nov. 27 to Dec. 15.

"We have determined that the information involved in this incident included customer name, credit or debit card number, and the card's expiration date and CVV (the three-digit security code)," the store said.
The retailer has since "identified and resolved" the problem. It has alerted affected financial institutions and is "partnering with a leading third-party forensics firm to conduct a thorough investigation of the incident."

"Target's first priority is preserving the trust of our guests and we have moved swiftly to address this issue, so guests can shop with confidence. We regret any inconvenience this may cause," Gregg Steinhafel, chairman, president and CEO of Target, said in a statement. "We take this matter very seriously and are working with law enforcement to bring those responsible to justice."

According to Krebs, the scam involved "the theft of data stored on the magnetic stripe of cards used at the stores." Initially, he said, officials thought the breach affected accounts from Thanksgiving to Dec. 6, but that was later extended to Dec. 15.

Target said those who suspect their accounts were impacted by the breach should call 866-852-8680. It also urged customers to "remain vigilant for incidents of fraud and identity theft by regularly reviewing your account statements and monitoring free credit reports." A notice on its website includes information on checking credit scores, as well as specific information for residents of Iowa, North Carolina, and Massaschusetts.

UPDATE: Visa said in a statement that it offers cardholders zero liability. "Because of advanced fraud-monitoring capabilities, the incidence of fraud involving compromised accounts is actually rare, and Visa fraud rates remain near historic lows," the company said. "As always, Visa encourages cardholders to regularly monitor their accounts, carefully review statements and notify their issuing financial institution promptly of any unusual activity."

That was one of the scariest reports I've seen on TV in a long time. Many people, myself included, rarely use cash for any transactions anymore.

I suspect Visa is no better than Mastercard or Discover in hiding its customer's account numbers or in guaranteeing they won't lose money from fraudulent transactions. My understanding is that some of the fraud doesn't even involve getting numbers from active cards. My mother's bank account number was compromised recently by someone in California and the bank said that some of the fraud involves the use of random bank account numbers and a "test" to see if those numbers work by making a small charge to the account. My mom's account was only deducted $6, and if I hadn't caught it immediately and protested, the perps would have later deducted a much larger amount.

It's all very frightening but as long as we're a plastic society I guess it's what we can expect.

I detest credit cards. It is too easy to hang yourself financially.

I do use a debit card, because it prevents me from overspending of money (that I don't have). Unfortunately, fraud protection for debit cards is non-existent, when comparing them to credit cards. Unauthorized charges will not be refunded by the bank, so I try to be vigilant.

I just called my son because I thought he had shopped at Target on Thanksgiving day, and indeed he had. He said he used cash though, which is what I was hoping. He's like you- he detests credit cards but does use a debit card occasionally. Luckily he did not do that on Thanksgiving.
It do be scary tho.