Wednesday, April 23 2014, 09:23 AM MDT
Target Data Breach Detailed, California Citrus Crops Compromised and CVS Will Stop Selling Tobacco
(KUTV) A Senate hearing has revealed new information about how hackers were able to steal financial information from tens of millions of Target shoppers.
Target executives testified in Wednesday's hearing in Washington D.C. They say they know how hackers got in and they know what needs to be done to keep them out from now on.
Target's Chief Financial Officer John Mulligan testified in Washington about a data breach that affected nearly a third of us adults.
We now know that the hacker got in using one of Target's vendor's credentials, where he or she installed malware.
Going forward, Target says they are installing new technology that will better encrypt customer's credit card information. Target is also implementing better notification standards so consumers will know much faster when a card is compromised.
A December deep freeze in central California is taking a toll on citrus crops. One quarter of the state's two-billion-dollar industry could be wiped out. The damage to the crops could cause a hike in citrus prices at grocery stores.
The nation's largest pharmacy, CVS, will stop selling tobacco this year. This is a two billion dollar risk the company is taking.
(Copyright 2014 Sinclair Broadcasting Group)