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

yesterday in Local

Tuition Freeze Deai In Doubt

Iowa state capital

Republicans in the Iowa House have voted to try to change the terms of a deal that would freeze in-state tuition for students at Iowa, Iowa State and U-N-I this fall.

yesterday in Local

More Testimony On “Hush Money”

money in hand

An official from the Iowa state agency under fire for confidential settlements that included “hush money” for laid off workers…

yesterday in Local

Nebraska Water Bill Becomes Law

WaterTap

Legislation that grew out of the work of the Nebraska Water Sustainability Task Force last year has been signed into law by Governor Dave Heineman.

yesterday in Local

Spotters Prepare For Storm Season

Todd Heitkamp training 41714

Severe storm spotting classes are going on across the region, as the turn to warmer weather approaches.

yesterday in Local

One Final Day In Lincoln

nebraska-state-capital

Nebraska lawmakers are back in Lincoln today for the final day of the 2014 session.