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)

Latest News

1 hour ago in Albemarle County, Charlottesville City, Local, Surrounding Counties, UVA

Amber Alert From Spotsylvania County

Fresh
Williams

An Amber Alert has been issued from Spotsylvania County.

1 hour ago in Music

‘You can’t always get what you want,’ Stones tell Trump

Fresh
rollingstonesREUTERS

The Rolling Stones told Republican presidential hopeful Donald Trump on Wednesday to stop using the band's music for his campaign after artists such as Adele and R.E.M. made the same request.

1 hour ago in Entertainment

Channing Tatum bringing ‘Magic Mike’ to Sin City

Fresh
20-overlay-3

The actor, who starred and produced in both the 2012 film and its 2015 sequel "Magic Mike XXL" made the announcement in a Facebook Live video on Wednesday, revealing "Magic Mike Live" will be coming to the Hard Rock Hotel and Casino in March, 2017.

1 hour ago in Entertainment

YouTube plans online TV service

Fresh
youtubeREUTERS

YouTube is working on a paid subscription service called Unplugged that would offer customers a bundle of cable TV channels streamed over the Internet.

2 hours ago in Entertainment

Cinco de Mayo deals

Fresh
23-overlay

Raise a margarita to celebrate saving money!