Data or Security Breaches - Target Company - Assignment Example

Cybercrime is one of the most serious technological vices in the current world. This is always manifested in several forms. One of these forms includes a security breach or data breach. Security or data breach is a serious issue that compromises the normal operations of several agencies. A security breach may have several severe consequences involving losses of huge sums of money, impacting negatively on the customer services, as well as compromise the reputation of the companies among others.

Target Companies in the United States of America is one has been faced by security threats relevant to a data breach in the last two years. In the year 2013, Target Company’s data were hacked in its stores. This presented serious threats to the credit and debit cards of approximately 40 million customers. This follows the introduction of malware to the POS system in the stores (Cheng, 1). In the year 2014 on January 10, the Target Company admitted that approximately 70 million of its customers faced serious security issues.

This is because their personal information was stolen following the security breach. This resulted in several losses to the company. In addition, the security breach at Target Company eroded the company’s good reputation. It is estimated that in 2013, the security breach cost the shareholders at the Target Company approximately $148 million (Cheng, 2). From the above incidences, there were several lessons learnt by prospective business persons, including the Target Company that was the victim.