Fiber Optic Telecommunications Networks: Target security breach likely to be 'highly sophisticated organized crime'

James F. Booth

For more than 25 years, James Booth has provided consulting and legal services to telecommunications carriers and to enterprise companies that manage their own telecommunications networks. Since June of 2009 he has also served as General Counsel of Spread Networks, LLC, which is the industry leader in the construction and operation of low latency high speed networks. Before joining Spread he was General Counsel for OnFiber Communications, a competitive telecommunications provider, and was the sole attorney for Qwest Communications International in support of its construction of an 18,800 mile fiber optic network spanning the United States. Earlier he was lead counsel for U S WEST in its wireless and cable television ventures in the United States, Europe and Hong Kong.

Monday, December 23, 2013

Target security breach likely to be 'highly sophisticated organized crime'

It took a group of cyber criminals 19 days to steal the personal information of 40 million people from Target's database, but it will take the retailer much longer to recover from the massive theft. On Wednesday, security blogger Brian Krebs reported that Target (TGT) was investigating a security breach involving stolen credit and debit card information. The retailer confirmed Thursday that approximately 40 million in-store customers had their information comprised over a nearly three-week period that included the heavily trafficked shopping period surrounding Black Friday. The value of the stolen personal information could be as much as $800 million depending on the extent of the criminals' underground network. The security breach represents one of the largest at a major retailer since 2007 when criminals stole card numbers and other data from as many as 90 million cards belonging to T.J. Maxx, HomeGoods, and other discount chains owned by parent-company TJX.

http://tech.fortune.cnn.com/2013/12/19/target-security-breach-likely-to-be-highly-sophisticated-organized-crime/?iid=SF_F_River