Discussion Assignment Example | Topics and Well Written Essays - 250 words - 107

Discussion - Assignment Example In the year 2013, Target Company’s data were hacked in its stores. This presented serious threats to the credit and debit cards of approximately 40 million customers. This follows the introduction of malware to the POS system in the stores (Cheng, 1). In the year 2014 on January 10, the Target Company admitted that approximately 70 million of its customers faced serious security issues. This is because their personal information were stolen following the security breach. This resulted to several losses to the company. In addition, the security breach at Target Company eroded the company’s good reputation. It is estimated that in 2013, the security breach cost the shareholders at the Target Company approximately $148 million (Cheng, 2). From the above incidences, there were several lessons learnt by prospective business persons, including the Target Company that was the victim. It is evident that every operating business premises should have secure data systems. The data should be protected in such a way that hackers cannot easily access them in order to avoid the losses incurred, as well as the negative consequences associated with security breaches. In conclusion, data or security breach is a serious issue to most companies as well as agencies. Data security breaches always paralyze several operations within the companies. In addition, they always result to huge losses and compromise on the reputation of the companies. Cheng, Andria. Target data breach has lingering effect on customer service, reputation scores. Retrieved on 10th June 2014 from