The investigation found that cybercriminals had accessed Targets gateway server through credentials stolen from a third-party vendor, according to Reuters. The retailer had reported that hackers stole data from up to 40 million credit and debit cards of shoppers who had visited its stores during the 2013 holiday season.
Among the 47 states and the District of Columbia that made claims for settlement, California will receive the largest share of any state. The costs associated with the settlement are already reflected in the data breach liability reserves that Target has previously recognized and disclosed, the company said in a statement.
The retailed has also added that the total cost of the data breach had been USD 202 million so far. Still, Target representatives said the company has so far settled with financial institutions and states but is yet to finalize a consumer settlement.
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