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)

Recent Headlines

in Viral Videos

Watch this giant panda have a ball playing in snow

Fresh
21-overlay3

This panda is pumped to see the first snowfall of the season.

in Entertainment

REVIEW: Third installment of ‘Hunger Games’ doesn’t disappoint

In this image released by Lionsgate, Jennifer Lawrence portrays Katniss Everdeen, right, and Liam Hemsworth portrays Gale Hawthorne in a scene from "The Hunger Games: Mockingjay Part 1."

Reluctant hero Katniss Everdeen faces the broiling drama of a budding revolution in "The Hunger Games: Mockingjay - Part 1."

in Entertainment

Modern version of ‘All in the Family’ in the works

allinthefamily

The groundbreaking '70s sitcom is being reworked for a 2015 audience.

in Music

Kix Brooks to receive first CMA humanitarian award

kixbrooks

Brooks will get the very first CMA Foundation Humanitarian Award for championing numerous good causes.

in Lifestyle

SPECIAL SECTION: See the latest Black Friday deals

walmart

We're just a week away! Check out the latest leaked ads and make a game plan to tackle your holiday shopping.