MINNEAPOLIS — Target is investing $5 million in a coalition of cyber-security organizations to launch a marketing campaign to educate the public about phishing scams and security, the mass merchandise retailer said.
The coalition includes the National Cyber-Forensics and Training Alliance, the National Cyber Security Alliance and Better Business Bureaus.
"Cyber-security is fast becoming one of the biggest marketplace challenges for businesses and a huge concern for their customers," Council of Better Business Bureaus president and CEO Mary Power said.
Target president, chairman and CEO Gregg Steinhafel published an open letter in newspapers across the country to announce the new campaign.
"In the days ahead, Target will announce a coalition to help educate the public on the dangers of consumer scams," Steinhafel wrote in the letter. "We also will accelerate the conversation — among customers, retailers, the financial community, regulators and others — on adopting newer, more secure technologies that protect consumers."
The announcement is being made in the wake of a massive security breach that took place between Nov. 27 and Dec. 15 in which payment card data on some 40 million customers were stolen, along with other information, such as names, addresses, telephone numbers and email addresses on up to 70 million customers.