Target reaches agreement with Visa over data breach

Settled: Target said it had reached an agreement with Visa Inc to compensate up to US$67mil to cover costs related to a data breach at the retailer two years ago.

Target Corp said it has reached an agreement with Visa Inc card issuers to reimburse up to US$67mil (RM274.15mil) in costs related to a data breach at the retailer in 2013, according to a source familiar with the matter. 

The breach during the holiday shopping season compromised at least 40 million credit cards and may have resulted in the theft of personal information from as many as 110 million people.