In a new response to the retailer’s loss of credit and debit card information to hackers, Target CEO Gregg Steinhafel has published an open letter announcing the formation of a coalition that will educate the public on the dangers associated with cyber scams. He stated that Target will invest $5 million in a multi-year campaign launched in conjunction with cybersecurity and consumer protection organizations designed to inform consumers about the dangers of phishing and related fraud.
“Target has a longstanding history of commitment to our communities, and cybersecurity is one of the most pressing issues facing consumers today,” according to Steinhafel, as quoted in a Target statement. “We are proud to be working with three trusted organizations, the National Cyber-Forensics and Training Alliance, National Cyber Security Alliance and Better Business Bureau, Inc., to advance public education around cybersecurity.”
Target also will learn from the experts at these organizations, who understand the complexities and growing challenges associated with cybersecurity, particularly phishing scams, and how to educate consumers in trusted, accessible and understandable ways, the retailer asserted. It added that the group would convene for the first time this week in Washington D.C., after which the participants will share details of its discussions.