Target Throws $10 Million Settlement Offer On Table For Customers Affected By 2013 Credit Card Breach
Account information for some 40 million credit and debit cards were potentially compromised during the security breach, which occurred between November 27 and December 15, 2013. It was one of the largest of its kind. Hackers are believed to have stolen data containing customer names, credit and debit card numbers, expiration dates, and even the CVV (three digit security code) number on the back of cards.
Hackers installed malware that affected Target's point-of-sale payment terminals. It spread like wildfire to nearly all of the chain's 1,797 stores, resulting in over a dozen lawsuits by the end of 2013. The breach was so severe that even the Department of Justice launched an investigation into the attack.
A court hearing for the proposed settlement is scheduled for Thursday in St. Paul, Minnesota.