Tennessee, Virginia among 46 states to share in Target data breach settlement
Target Corporation is paying out $18.5 million to 46 states including Tennessee and Virginia to close an investigation into a data breach in 2013 that compromised shoppers' financial information.
In a statement from Virginia Attorney General Mark Herring's office, the state will received more than $352,000 and requires Target to overhaul their cybersecurity efforts to protect consumer data such as credit card information.
Target is being required to hire a new executive to administer new security initiatives including encryption policies and software updates that will segment cardholder data from the rest of its computer network, the report said.
The investigation determined a third-party vendor was able to compromise Target's security network and gain access to sensitive materials including email addresses, banking account information, telephone numbers and names of customers.