How serious is the Target hacking?
December’s Target hack affected millions of shoppers, whose credit card data, email addresses and phone numbers were stolen and sold on the black market. So, should you stop shopping at the store? Financial experts say no. Thankfully, the hacking sounds a lot scarier than it is, Reuters reports.
According to reports, it isn’t customers who lost big — it’s the company. Any time a credit or debit card is reported as stolen, the bank refunds the victim, so those affected by the Target hacking didn’t actually lose any money. But the hacking is costing the company about $50 million. Target is responsible for paying for any purchases made with the stolen cards.
As for the personal information the hackers obtained, Reuters reports that the worst that can happen is a targeted (no pun intended) email marketing campaign.
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