Written by Alex Bach
With Target’s recent massive security breach, people all over the country have been wondering about the latest developments and asking “Just who is going to look into this and punish those responsible?” Well, it looks like the new sheriff in town is going to be the Secret Service. A division of the IRS, the Secret Service is likely the best choice to head up the investigation.
Not sure if your information has been compromised? Check out some of the warning signs for identity theft and how you can stop it from going further.
The Latest in The Target Breach:
After the initial estimates that approximately 40 million customer’s information had been stolen or compromised, it was revealed that the breach was bigger than initially thought. New numbers have the breach effecting roughly 70 million people. A big break in the case came early this week when Texas police arrested two Mexican citizens in possession of 96 credit cards with numbers stolen during the Target breach. The couple, Mary Carmen Garcia and Daniel Guardiola Dominguez, were arrested trying to reenter the country where they were making large purchases at stores like Best Buy and Wal-Mart.
While the two were caught with the cards, they were not the ones responsible for the major breach. Recently, a security firm has traced the malware responsible for the breach to Russia, including a 17-year old coder who shared the malware with others.
Secret Service to the Rescue:
The Secret Service has been called in to investigate the credit card breach. Along with the Service’s broader investigation in the fraud, they’ve joined the investigation into the Mexican nationals arrested in Texas. The Service has been tight lipped over their exact findings–as can be expected.
How Can We Prevent Something Like This From Happening Again?
One of the best ways to prevent another breach of this scale would be for America to finally convert to a different type of credit card. The magnetic strip on the back of most current cards is easy to read, copy and reproduce. Many other countries, most in Europe, have instituted smart cards. These smart cards have a chip instead of a magnetic strip and require the consumer to enter in a PIN in order to use them