News

Target CFO to testify before Senate in data breach investigation

Target CFO to testify before Senate in data breach investigation

TARGETED: Last week, Democratic lawmakers called for a congressional inquiry into the hacking of credit and debit card data of tens of millions of customers of the No. 3 U.S. retailer during the holiday shopping season. Photo: Associated Press

(Reuters) – Target Corp’s chief financial officer will testify before the U.S. Senate Judiciary Committee on Feb. 4 about a massive data breach in what is likely to be the first time the retailer publicly answers questions about the unprecedented attack.

The committee is chaired by Senator Patrick Leahy, a Vermont Democrat and author of one of the few data security bills under consideration.

John Mulligan, who is executive vice president as well as chief financial officer, oversees Target’s financial portfolio, including finance and retail services, company spokeswoman Molly Snyder said in an email confirming his appearance before the panel.

Representatives of the Federal Trade Commission, the Secret Service and the Department of Justice are also slated to testify at the hearing, according to the committee’s schedule.

Last week, Democratic lawmakers called for a congressional inquiry into the hacking of credit and debit card data of tens of millions of customers of the No. 3 U.S. retailer during the holiday shopping season.

Target, based in Minneapolis, has said a breach of its networks resulted in the theft of about 40 million credit and debit card records and 70 million other records with customer information.

Privately owned luxury retail chain Neiman Marcus has said it too was victim of a cyber attack, and sources have told Reuters other retail chains have been hacked.

In a post on Neiman’s website dated Jan. 22, Chief Executive Officer Karen Katz said data tied to about 1.1 million customer payment cards could have been exposed as part of the breach from July 16 to Oct. 30.

So far, about 2,400 payment cards used at Neiman Marcus’ various chains have been used fraudulently, Katz said, citing notification from credit card networks Visa Inc, MasterCard Inc and Discover Financial Services.

(Reporting by Alina Selyukh, Dhanya Skariachan and Phil Wahba; Editing by Jonathan Oatis)

Recent Headlines

in Local

Police Investigate Southtown Shooting; Accident at Dirksen & South Grand

accident_southgrand

Springfield Police are investigating a couple of east side incidents they say might be related.

in Local

Bel-Aire Motel a “Chronic Nuisance?” Not Necessarily.

BEL-AIRE

Slapping the Bel-Aire Motel with "chronic nuisance" violations could be easier said than done.

in Local

Bomb Squad Investigation into Springfield IED Begins

bomb-squad

The Secretary of State Police Bomb Squad has a daunting task on its hands -- gather information about a pipe bomb it nearly destroyed to prevent it from exploding.

in Local

Standoff Near Pana Injures Police Officer; Kills Gunman

pana_standoff_1

Several law enforcement agencies responded to what was a standoff near Pana in rural Christian County.

in Local

IPI: Illinois Pension Funding = Problematic

pension

The right-leaning “free market” advocacy group Illinois Policy Institute says new standards from GASB – the Government Accounting Standards Board – magnify the problem.