Local Target breach victim hit with fraudulent charges - FOX13 News, WHBQ FOX 13

Local Target breach victim hit with fraudulent charges

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    Friday, October 4 2013 3:43 PM EDT2013-10-04 19:43:45 GMT
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Mid-South (FOX13) -

People across the country are starting to see fraudulent charges as a result of the Target security breach including right here in the Mid-South.

Card numbers and card data were stolen at Target stores over Thanksgiving, and now banks are responding as fraud is showing up in bank accounts.

MORE: Target Data Security Media Update

If you shopped at Target between November 27th and December 15th you need to keep an eye on your account and alert your bank to any charges you didn't make.

MORE: Target reveals gift card snafu

It's the second largest credit/debit account security breach in history with an estimated 40 million accounts compromised including the debit account of Memphian Caitlin Giovannetti.

"Someone had gone to Target in Boulder, Colorado, spent a bunch of money.  By the time I figured it out I really couldn't do anything about it," says Giovannetti.

Many banks were proactive and issued new account numbers and cards for people who were at risk. Caitlin uses First Tennessee, and got a new account number, but it was already too late, a fraudulent charge of about 70 dollars was already debited.

"I have student loans, I'm 24, I'm working and trying to pay my student loans off.  I don't have a whole lot of money to just waste.  Not to mention Christmas, my new nephew and all the presents I had to buy.  It was really bad timing," says Giovannetti.

According to Krebs-on-Security, the hacked accounts are now being sold on the black market in batches of one million cards, for 20 to more than 100 dollars each. Consumers are starting to see the result of those fraudulent charges on their account.

FOX13 contacted several major banks who all said there is no estimate on the financial impact at this point.

Local bank, First Tennessee's Dondi Black says, "First Tennessee cannot yet estimate the cost of the card replacement, but it will not be insignificant due to the magnitude of Target's compromise. While some fraud has already been detected, the combined proactive actions of First Tennessee and our customers have helped minimize the impact."

The breach has Caitlin thinking about switching to using cash. "I'm kind of scared to go to Target again and I love Target.  I don't even know if I'm going to activate my new card."

On Friday, Target reiterated that the stolen data included customer names, credit and debit card numbers, card expiration dates and the embedded code on the magnetic strip found on the backs of cards, Target said.

Target hasn't said how the breach occurred but said it has fixed the problem. The company is using a third-party forensics firm to investigate.

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