Target Announces $5 Million Investment in New Cybersecurity Coalition

January 13, 2014 - Article reads in
Target cyber security

The recent Target data breach has fueled conversations about high-level cybercrime and phishing scams. It’s a field that, unfortunately, is only likely to continue to evolve as technology and cybercriminals become more sophisticated.

Today, in an open letter published in newspapers across the country, Target Chairman, President and CEO, Gregg Steinhafel announced a new coalition to help educate the public on the dangers of these scams. Target is now able to share some additional details.

A group of nationally recognized, respected organizations in cybersecurity and consumer protection will launch a campaign to accelerate the dialogue around cybersecurity threats and the dangers of consumer phishing scams. Target will invest $5 million in a multi-year campaign for this effort.

“Target has a longstanding history of commitment to our communities, and cybersecurity is one of the most pressing issues facing consumers today,” said Steinhafel. “We are proud to be working with three trusted organizations — the National Cyber-Forensics and Training Alliance (NCFTA), National Cyber Security Alliance (NCSA) and Better Business Bureau (BBB)—to advance public education around cybersecurity.”

Target will learn from the experts at these organizations who best understand the complexities and growing challenges associated with cybersecurity—particularly phishing scams— and how to educate consumers in trusted, accessible and understandable ways.

“Cybersecurity is fast becoming one of the biggest marketplace challenges for businesses, and a huge concern for their customers,” said Mary E. Power, CAE, president and CEO of the Council of Better Business Bureaus.

Effectively addressing such digital crimes and concerns demands a new and collective response, said Maria Vello, CEO, NCFTA. “Organizations from the public and private sectors must come together.”

Michael Kaiser, executive director of the NCSA, echoed her sentiment: “We believe that cybersecurity and online safety can only be achieved through sharing the responsibility and working together. This effort exemplifies that approach.”

The coalition will convene for the first time later this week in Washington, D.C., and we’ll share more following the inaugural meeting.

Read additional stories from A Bullseye View on the data breach, and use Target’s website as a resource for all official guest communications and to view frequently asked questions.

Don’t miss out on the latest Target news and behind-the-scenes happenings! Subscribe to our newsletter and get the top stories from A Bullseye View delivered straight to your inbox!