Target Breach Paper

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The revolution of online shopping and e-banking has changed the way the world looks at the security of its personal information. The banking industry has “been transformed by the internet” (Koskosas, 2011). This has never been more evident than with the recent Target breach. This breach affected more than 70 million people. People saw, firsthand, the measures banks took to try to secure their data. Customers need to know exactly what banks are doing to keep them safe. This research will explain why it is the job of the banks to safeguard their customers’ information. The Gramm-Leach-Bliley (GLB) Act and the Safeguards Rule will be explained. The research will also explain the industries’ zero liability protection, the issuance of new cards when a …show more content…

T. (2006, April). Financial Institutions and Customer Information: Complying with Safeguards Rule. Retrieved from Federal Trade Commission BCP Business Center: http://www.business.ftc.gov/documents/bus54-financial-institutions-and-customer-information-complying-safeguards-rule Cummings, C. (2013). Almost Half U.S. Banks Are Reissuing Cards Due to Target Breach. Retrieved from American Banker: http://www.americanbanker.com/issues/178_248/almost-half-us-banks-are-reissuing-cards-due-to-target-breach-1064586-1.html Koskosas, I. (2011). E-banking security: A communitacation perspective. Palgrave Journals, 81-99. Lawrence, D. (2014, February). Hack-Resistant Credit Cards Bring More Safety—at a Price. Retrieved from Bloomberg Businessweek Technology: http://www.businessweek.com/articles/2014-02-14/hack-resistant-credit-cards-bring-greater-security-at-a-big-price Shah, M. H., & Usman, A. K. (2013). Strengthening E-banking Security Using Keystroke Dynamics. Journal of Internet Banking and Commerce, 18(3), 1-11. Son, H. (2013). JPMorgan Boosts Debit-Card Limits After Target Breach. Retrieved from Bloomberg:

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