Cybercrime
The Cybercrime
The 2013 data breach affecting Target was a severe incident that had major repercussions
for individuals and the organization. The data breach in question occurred in 2013 when hackers
got unauthorized access to Target's payment system, revealing the personal information of
millions of users (McCoy, 2017). The attackers infiltrated the system through a third-party
HVAC supplier, leading to the theft of payment card data and personal information of 41 million
consumers.
Impact on Individuals and Business
The ramifications of this cybercrime were significant for individuals. Many consumers
faced financial losses, fraudulent accusations, and identity theft. Victims faced emotional distress
and had to navigate the hard process of rebuilding their credit and personal security. Moreover,
the breach weakened trust in the business, causing worry among consumers regarding the
privacy of their data when shopping at similar sites. Target Corporation incurred substantial
financial losses in terms of the $18.5 million settlement (McCoy, 2017) and the destruction of the
business brand and customer trust. The event led to managerial resignations, continuous legal
challenges, and a commitment to invest significantly in cybersecurity measures to avert repeat
invasions. Additionally, stock prices dropped, hurting owners and stakeholders equally.
Influence on Consumer Behavior and Personal Experiences with Cybercrime
The Target data breach is a clear reminder of the perils in today's digital world. As a
professor specializing in cybersecurity, this instance highlights the need to remain watchful as a
consumer. The event underscores the requirement for individuals to adopt best practices in
