Target Forms, Invests In Cyber Security Alliance

To prove to consumers that it is serious about data security, Target is planning to invest $5 million in a new cyber security alliance.

The alliance, formed in conjunction with the National Cyber Security Alliance, the Better Business Bureau and the National Cyber-Forensics and Training Alliance, will act to inform the public about the dangers associated with scamware, point-of-sale malware and other forms of online fraud.

“Target has a longstanding history of commitment to our communities, and cybersecurity is one of the most pressing issues facing consumers today,” Gregg Steinhafel, Target president, chairman and CEO, said in a statement.

Target is working steadily to improve its public image after disclosures that the retail giant experienced a massive data breach during the 2013 holiday season. Since then, word broke that other major retailers, including Neiman Marcus, also were it with point-of-sale malware that can aid hackers in stealing customer data, credit card numbers and other sensitive information.

Market Platform Dynamics CEO Karen Webster wrote about the wide-ranging repercussions of the Target breach in a recent commentary, which can be found here.

Read Target’s full press release announcing the new cyber security alliance by clicking here.

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