Target was prepared for its massive hack in November and knew of it early on, but did nothing to stop it, according to a report.
According to a Bloomberg Businessweek report, the retailer installed a $1.6 million malware detection tool from FireEye and employed a group of security specialists in Bangalore to monitor the system at all hours.
According to the report, specialists in Bangalore alerted Target officials. But the hack occured anyway. When asked about the oversight by Bloomberg, the company's top official was largely mum.
“Target was certified as meeting the standard for the payment card industry (PCI) in September 2013. Nonetheless, we suffered a data breach," Target Chairman, President and CEO Gregg Steinhafel said in a statement issued to Bloomberg. "As a result, we are conducting an end-to-end review of our people, processes and technology to understand our opportunities to improve data security and are committed to learning from this experience. While we are still in the midst of an ongoing investigation, we have already taken significant steps, including beginning the overhaul of our information security structure and the acceleration of our transition to chip-enabled cards. However, as the investigation is not complete, we don’t believe it’s constructive to engage in speculation without the benefit of the final analysis.”
The hack in November resulted in the leak of 40 million credit card numbers, as well as 70 million addresses, phone numbers and other pieces of information.
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