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

Clean Up Underway After Strong Storms

Fresh
Dakota City storm 90114

Clean up is underway in Dakota City Nebraska and Sergeant Bluff Iowa after strong storms moved through late Sunday afternoon.

in Local

US Facing Critical Issues in the Mid-East

Fresh
john thune

South Dakota Senator John Thune says the US needs strong leadership to confront terror in the mid-east.

in Local

Labor Day Time to Push for Higher Wages in South Dakota

Fresh
Money Coins

South Dakota voters can decide on a higher minimum wage in the November election.

in Local

SD Legislative Committee Asks EB-5 Participant to Appear

Fresh
JeanHunhoff131

The Government Operations and Audit Committee of the South Dakota Legislature has asked Joop Bolen to appear at it's September 24th meeting.

in Local

South Dakota Now Top Hydro-power State

mo river 51412

The Wall Street Journal says South Dakota now is one of the top hydro power producing states in the country.