Target Security: A Case Study of How Hackers Hit the Jackpot at the Expense of Customers

Review of Business & Finance Studies, v. 7 (2) p. 41-50

10 Pages Posted: 21 Dec 2016

See all articles by Dorothy A. McMullen

Dorothy A. McMullen

Rider University - Accounting

Maria H. Sanchez

Rider University - Department of Accounting

Margaret (Marge) O'Reilly-Allen

Rider University - Accounting

Date Written: 2016

Abstract

For most people, the word cybercrime invokes getting individuals’ personal information through Internet hacking. For this reason, many people are wary about making online purchases, concerned about the security of their personal data and the rise in identity theft. However, the recent breach of security at Target, when customers made in store holiday purchases, indicates the pervasiveness of this terrible crime. In late December 2013, Target announced that hackers, through point of sale terminals in stores, had successfully stolen data for up to 40 million credit and debit cardholders. Target later revised the estimate to 110 million cardholders, citing that the breach included encrypted pin information as well as purchases made more than a decade ago. This case allows students to analyze the Target security breach and propose ways that the attack could have been prevented or at least detected more quickly by Target management, internal and external auditors. This case is suitable for an undergraduate class or a graduate business class.

Keywords: Cybercrime, Target, Fraud, Security Breach

JEL Classification: M40, M42

Suggested Citation

McMullen, Dorothy A. and Sanchez, Maria H. and O'Reilly-Allen, Margaret (Marge), Target Security: A Case Study of How Hackers Hit the Jackpot at the Expense of Customers (2016). Review of Business & Finance Studies, v. 7 (2) p. 41-50, Available at SSRN: https://ssrn.com/abstract=2826792

Dorothy A. McMullen (Contact Author)

Rider University - Accounting ( email )

United States

Maria H. Sanchez

Rider University - Department of Accounting ( email )

2083 Lawrenceville Road
Lawrenceville Township, NJ 08648
United States

Margaret (Marge) O'Reilly-Allen

Rider University - Accounting ( email )

United States

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