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Target Data Breach: What should you do?

If you’ve watched or read the news lately, you likely already know that U.S. retailer Target announced on Thursday that—from November 27 to December 15—debit and credit cards swiped using in-store terminals at locations across the United States may have been compromised due to a data breach.

As of today, new information emerged indicating that participants in the Target Red Card program, which ties a Target-issued card to your bank account, may have had their bank account information compromised.  While this information has yet to be confirmed, it’s important to note that the compromising of bank account information—if confirmed—would only extend to Target Red Card participants.

Electronic Account ProtectionBefore official news broke, we were already working with customers to identify fraudulent debit card transactions and—when appropriate—issue new cards.  Even if you haven’t shopped at Target in recent weeks, incidents like this serve as good reminders to always be vigilant in monitoring your account activity.

Do I need to cancel my CNB debit card and get a new one?

In short, not necessarily.  If you shopped at Target in recent weeks and want to inquire about whether or not your card was potentially compromised, you can call our Customer Service department during normal business hours at 1.888.262.9226.  Over the weekend, should you notice an unauthorized transaction or suspect your card has been compromised, please call 1.866.298.0073 (the phone number on the back of your debit card) and select Option 7 to deactivate your card.

How does Central National Bank protect my accounts?

Our Fraud Detection software continually monitors transaction information to prevent fraudulent transactions, and if we identify suspicious activity on your debit card, we will contact you.  This software was instrumental in enabling us to catch fraudulent transactions connected with this particular breach before official news was released.

Information for participants in the Target Red Card program

If you have a Target Red Card—regardless of whether or not you’ve used your card in the last few weeks—you  may wish to pay close attention to your account over the coming weeks.  Unlike with CNB-issued debit cards, the Target Red Card program works like a check by drawing funds from a checking account via ACH.

Any fraudulent transactions due to compromises with Target Red Card participants would likely come in the form of ACH debits.  If an unauthorized ACH debit should post to your account, you would have 60 days to return the transaction.  Please monitor your account activity and bank statements and notify us immediately of any unauthorized transactions.   If you need to speak with Target about your Red Card, you may contact them at 1.888.755.5856.  (From outside the U.S., call Collect:  1.612.307.8622)

How can I monitor my accounts?

Technology has made it easier than ever to keep close watch on your accounts.  If you are not already a user of our CentraNet online banking, we’d encourage you to consider signing up.  If you’re already using CentraNet, you can make use of our “Alerts” feature.  Once you’ve logged into CentraNet, select “Options”, then “Alerts”.  There, you can customize the alerts you’d like to receive.  Participants in the Target Red Card program may wish to set up an e-mail alert for “Receiving Incoming ACH Debits”.

In addition to CentraNet, you might also wish to begin using Mobile CentraNet.  We have apps for both iPhone and Android phones.  And, if you don’t have a smart phone, that’s no problem—Mobile CentraNet also offers a text option where you can use text commands to retrieve information about your accounts.

Continuing to proactively evaluate the situation

At Central National Bank, we will continue to monitor the situation and respond to developments as they are revealed to us.  Again, if you ever have questions about your account, please do not hesitate to contact our Customer Service department at 1.888.262.9226.

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Posted in Banking, Business Banking, Personal Finance