Target’s Chief Information Officer Beth Jacob has announced her resignation in the wake of the massive data breach that exposed account details of more than 100 million customers, and the company has implemented plans for a major security overhaul with the assistance of third-party consultants.
Jacobs has been in her position since 2008, and will be replaced by an interim CIO to be recruited from outside of the beleaguered company, and they confirmed plans to also plans to hire a chief information security officer and a chief compliance officer.
Target had disclosed the breach on December 19, stating that it had lasted from at least Black Friday through December 15th, and by that time data from millions of credit and debit card accounts stolen in the breach had already hit the black market.
Officials from at least one major bank had confirmed that they found stolen account information being sold on the black market in large batches of one million cards, with prices ranging from from $20 to more than $100 per card.
Reuters also reported in January that several other major retailers were the victims of data consumer losses over the holiday season in addition to Target and Neiman Marcus, though the breaches have yet to be publicly disclosed.
The attackers are thought to have used similar techniques as those employed by the Target attackers, who authorities believe infect point of sale (PoS) terminals with data sniffing malware, and some now speculate that the attacks may have been conducted by the same criminal organization based out of Eastern Europe.
“While we are still in the process of an ongoing investigation, we recognize that the information security environment is evolving rapidly,” Target Chairman, President and CEO Gregg Steinhafel said in a statement.
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