Thursday, December 19, 2013

Target Credit Card Breach

This email came today from the Better Business Bureau Director. Please take precautions. 

If you used a credit card at Target in the past few weeks, don’t panic! You are not liable for ANY fraudulent charges on your account.

Monitor your credit card statements carefully (go online; don’t wait for the paper statement). If you see a fraudulent charge, report it to your bank or credit card issuer immediately so the charge can be reversed and a new card issued.

Keep receipts in case you need to prove which charges you authorized and which ones you did not.
If you used a debit card at Target in the past few weeks, you should be more assertive in paying attention to your account. With credit cards, you can withhold payment of an amount in dispute, but debit card transactions remove funds directly from your bank account, potentially wreaking havoc on your finances. What’s more, you may have some liability if you fail to report unauthorized charges within 60 days after your statement is sent to you. Target is in the process of notifying banks and credit card issuers, who will in turn notify affected customers. You can contact your bank or credit card issuer for more information if you want to pre-emptively request a new debit card or put a security block on your account.

For more on the difference between credit and debit card protections:

For EVERYONE, not just those who shopped at Target:

Scammers will likely use this highly public event to create emails purporting to be from Target, your bank or your credit card issuer, telling you your card was compromised and suggesting actions to “fix” the problem. Phishing emails may attempt to fool you into providing your credit card information or ask you to click on a link or open an attachment, which can download malware on your computer that are designed to steal your identity. Don’t click on any email links or attachments unless you are absolutely certain the sender is authentic.

Monica Horton President

Tel: 940-691-1172