Sample Essay
The case depicts that the hackers were able to gain unauthorized access into the online payment systems and records of the popular retailers like TJK, Wholesale Club, OfficeMax and Barnes and Noble from where they stole customer information and the credit card numbers which were in turn resold in the market to those who seek such products and services.
The main issues that are highlighted by this case are the lack of sufficient protection measures taken by the companies/ retailers involved as well as the vulnerability of the computer systems. Moreover the lack of supervision and transaction supervision by the VISA and the MasterCard also contributed greatly to the theft of the credit card records and the credit card fraud by the hackers as the institutions were unable to pinpoint and detect the fraud at the early stages of its occurrence. This enabled the theft to escalate to nine retail stores from where credit card information worth millions was stolen as a result.
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