March 26 Trustmark National Bank and Green Bank
N.A. have sued security firm Trustwave for damages suffered from
the holiday season data breach at Target Corp, accusing
the company of failing to identify security gaps, the American
The two banks are seeking damages of more than $5 million
and named Trustwave Holdings and Target as defendants, the
American Banker said. (link.reuters.com/cas87v)
The banks allege that the vulnerabilities in the Target
system were either undetected or ignored by Trustwave, giving
hackers access to millions of card accounts and personal
records, the report said.
Some 40 million payment card records were stolen from the
discount retailer, along with 70 million other records with
customer information such as addresses and telephone numbers,
during the 2013 holiday shopping season.
Target missed multiple opportunities to thwart the hackers
responsible for the unprecedented holiday shopping season data
breach, U.S. Senate staffers charged in a committee report
released on Tuesday.
The report also said Target gave access to its network to a
third-party vendor that did not follow accepted information
Target faces dozens of potential class-action lawsuits and
action from banks that could seek reimbursement for millions of
dollars in losses due to fraud and the cost of card
Target and Trustwave were not available for comment outside
regular business hours.
(Reporting by Arnab Sen in Bangalore and Jim Finkle in Boston;
Editing by Gopakumar Warrier)