Analyst sees Target data breach costs topping $1 billion
Two months into the Target security breach, fraud is turning up on 10 percent to 15 percent of the stolen card accounts, a security specialist says.
Based on that brisk level of criminal activity, one Wall Street analyst estimates that perhaps 5 million of the 40 million stolen credit and debit cards may have been used fraudulently — an exposure that could hit Target Corp. with industry fines topping $1 billion.
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