MEDFORD, Ore. – People who have shopped at Target recently should check their bank and credit card statements for suspicious activity. Approximately 40 million customer credit and debit cards may have been compromised. The secret service is investigating the major data breach at Target.
The information is believed to have been lifted from roughly 40,000 devices at store registers between November 27 and December 15th of this year. Hackers reportedly accessed data stored on the magnetic strip of cards used in stores, not online, and the breach may extend to almost all of the nearly 1,800 Target retail stores nationwide.
Rogue Federal Credit Union, just one of dozens of financial institutions in Southern Oregon, is still waiting to hear from Visa about the local scope of this breach. Visa has yet to provide the card numbers for Rogue Credit members who need to cancel and order a new one.
If a breach of this magnitude happened a few decades ago, the loss would be much greater. Financial experts say online banking and 24/7 account monitoring has eased the pain of this kind of fraud.
“20 years ago, making sure that nothing wrong happened to your account was to wait for your statement in the mail and balance your checkbook to your register…and now people are more on the fly and busy, and relying on online banking, and relying on their financial institutions to keep their account safe,” said Jeanne Pickens, with Rogue Credit Union.
Rogue Credit employs nearly a dozen people to monitor account behavior and then notify the member if anything looks out of the ordinary, whether that be the amount spent on the account or location.
Members can also sign up to monitor their own accounts by sending creating personalized alerts. If you want to be notified if your account is charged more than a hundred dollars or your account falls below a certain amount, the system would text your phone or email to let you know that happened.
If you are a victim of this breach, you just need to call your financial institution. At Rogue Credit Union, if your loss is 50 dollars or less, it will cover the amount. If the fraudulent charge is more than 50 dollars, the card company will have to cover it.