WASHINGTON (CBSNewYork/AP) — Executives with Target and Neiman Marcus were in Washington Tuesday testifying before the Senate Judiciary Committee about recent data breaches at their stores.
John Mulligan, executive vice president and chief financial officer at Target, said the retailer has taken actions to shore up security following the massive breach of millions of consumers’ data during the holiday season.
It was the first public appearance by a Target executive addressing the issue since the breach that occurred between Nov. 27 and Dec. 15. An estimated 40 million credit and debit card accounts were affected.
Mulligan said Target is “deeply sorry” for the effect of the data theft on consumers, and he acknowledged that their confidence in the company has been shaken.