Target Stores Data Breach: What You Need to Know

posted 12/19/2013 in Banking

Target Data BreachThe national news outlets are buzzing today about the data breach that may have compromised up to 40 million debit and credit cards that were used at Target stores over the past few weeks.  This news is particularly alarming for many because the data theft came during the busiest shopping time of the year.  Here’s what you need to know to help ensure you aren’t a victim.

At this time, we at Lincoln Savings Bank (LSB) do not have any additional information other than what has been reported in the news.  It may be days or even weeks before we get information specific to any LSB customers who may have been affected. If you are an LSB customer and we get notification that your LSB debit card was compromised due to this data breach, we will work with you to reissue you a new card and disable your old card once your new card is received.

In the meantime, we strongly encourage you to monitor your account activity and report any unauthorized transactions to LSB immediately.  An LSB representative will take action to complete appropriate paperwork, start the process to reimburse your account for the unauthorized amount, order a new card and disable the affected card.

As a reminder, it is best practice to always monitor your accounts for unauthorized activity, even without the concern of being victim of a large data breach.  The best way to monitor your account activity is via online or mobile banking.  Transactions are updated real-time as they hit your account.  Don’t have online banking with LSB?  No problem, you can sign up at www.mylsb.com.  Just click the “Enroll Now” link below the Account Access login box.

Bottom Line:  LSB customers are protected from losses due to this type of breach if they actively monitor their accounts and promptly notify Lincoln Savings Bank if they discover an unauthorized transaction.  We want our customers to rest assured that we will do everything possible to prevent any financial loss.

Lincoln Savings Bank, Member FDIC

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