The Twin Cities Pioneer Press reported on February 2, 2014 that the impending Congressional investigation is going to officially begin this week in Washington, DC regarding the security breach at the Target Corporation that has affected over 110 million customers. The hacking scandal took place just before Christmas of 2013, leaving Target customers’ credit card information and bank account PIN codes at risk of being stolen or compromised.
In an interview with the director of a world renowned cyber security firm, Jonathan Fairtlough of Kroll, the results of this investigation are expected to have global consequences for the retail industry.
"This is going to be a watershed moment, because one of the things that Target really shows is, we don't have a national standard for data security," says Fairtlough
Even though tougher protocol for cyber security measures have consistently been posed to Congress for several years, government has failed to take decisive action as yet. Internal squabbling over the individual burdens and responsibilities that would potentially be assigned to bankers, retailers, and the consumers themselves has left Congressional progress on this issue at a stalemate.
The Target security breach is simply too big to ignore, according to Fairtlough who expects the investigation to result in improved and faster methods for notifying the public, better methods put into place to assist breached consumers, and the creation of a national registry for retailers to track the rising occurrences of cyber hacking on their industry.
"I don't see it coming into being in six months, but I do see it coming into being in two years," says Fairtlough.
But in light of the past years of the Obama Administration where indecisiveness and stalemates are commonplace, 2 years is still a very promising outlook. Time will tell, but Congress is finally beginning the official investigation this week.