Main article - Target Data Breach: There hasn't been much fraud...yet http://finance.yahoo.com/news/target-data-breach-hasnt- much- 190048314.html I chose the article about the target data breach because I was actually one of the people affected. I wanted to know how to handle the situation and what to do if more information was compromised. I wanted to get more information on how something like this could happen and affect so many people. It's also a major issue being discussed in news and finance, so I wanted to know more about how Target and the banks will handle this issue. This article explains how 40 million credit and debit card accounts were stolen. Explain the difference between experiencing credit card fraud and just having your account information stolen. Most people who have had their information stolen have not been affected by credit card fraud. One explanation for this is that fraudulent transactions can be rejected by a retailer's anti-fraud system, and the consumer may not even be aware of any activity taking place because it is blocked before the fraud can even take place. Additionally, because so many people were affected by the scandal, most banks took control and canceled and replaced old credit and debit cards to prevent thefts from occurring. Many banks wait to see if fraud actually occurs before reissuing cards because it is very expensive. While there hasn't been much fraud at the moment, hackers may be waiting for all the publicity to die down before committing their fraudulent acts. The article states that many times hackers can wait a year or two to use your account information. When hackers wait a long period of time, the......middle of paper......rder to better protect consumers. I learned that there is technology in Europe that supports greater cardholder verification and that there has been a notable decrease in the number of people affected by financial fraud. I think advanced technology like this should be used more widely to make the use of credit cards safer. This project has certainly strengthened my belief that consumers and banks need to be more cautious when it comes to personal information such as credit card numbers, email addresses, phone numbers, birthdays or addresses. I also believe the government should respond to this large data breach and enact stronger laws and greater protection from fraud and identity theft for people who use credit cards. EMV and other technologies should be put in place to better protect consumers, their financial information, and the economy.