It is estimated that over 40 Million Target accounts have been compromised. There was a security breach at Target stores which began on or around November 27th, right before “Black Friday,” and continued through at least December 15th. The security breach allowed hackers to access Target customer’s credit card and debit card data. Target announced December 20th, that it had been hacked and that there had been a compromise to millions of card holder accounts. Target reported that the hackers obtained access to the card numbers, names of the holders and the three-digit security numbers for credit and debit cards. On December 27th, Target reported that the encrypted personal identification numbers (PINs) were also taken.
In response to this breach in security Target has had 2 class-action lawsuits filed against them. The lawsuits are seeking damages for financial losses from the defrauded accounts and the costs of closing accounts, reissuing checks, debit cards and credit cards as a result from the breach of Target’s system.