Some seventy-million Target shoppers now have their credit card information at risk from hackers in a holiday cyber attack. I was shocked.
At first, I was shocked that 70 million people had bought something at Target for Christmas – that’s a lot of shoppers. Kinda makes you wonder where the people who say, “Another day, another dollar.” are getting their money from.
Then a second shock wave hit me.
That was the concept of 70 million credit card users. That isn’t just a lot of purchase money, that’s a ton of transaction fees and interest. With that much money in fees and interest coming in, shouldn’t the banks and the retailers be spending more money on security?
More secure credit cards and readers are certainly available.
From the outside, it looks like retailers and the banks are looking at each other and saying something like, “That’s your job.” But maybe this is an expensive enough hit to make them finally work it out.
I’m old enough to remember the James Bond movie “Goldfinger.” You know, the one where the bad guy put together an elaborate plot with beautiful women, helicopters and poison gas to steal all the gold from Fort Knox.
I guess we always get nostalgic around the holidays.