A week before Christmas in 2013, a small Pittsburgh-based mechanical contractor gained notoriety as the source of one of the largest data breaches in history. Using a set of pilfered network credentials stolen from that contractor, criminals gained access to the global payment and billing network for retail giant Target. Once inside Target’s network, the criminals utilized a sophisticated form of malware (i.e., malicious software) to identify and access approximately 40 million credit and debit card accounts.
Investigations by law enforcement and forensic specialists ensued. Litigation commenced and settled at great expense. By May 2014, Target’s CEO had lost his job. By 2016, Target was reporting that the total cost of the breach exceeded $292 million dollars. The Target breach was extensive due in part to the company’s size and large customer base, but even for small companies, expenses relating to cybersecurity attacks can accumulate quickly and cause collateral damage.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]