Target data breach results in settlement for Coloradans

DENVER — Colorado Attorney General Cynthia Coffman said Wednesday the $18.5 million settlement with Target is the largest multistate data breach settlement achieved to date.

Colorado will receive $278,914 from the settlement.

The breach affected more than 41 million customer payment card accounts and contact information for more than 60 million customers.  An estimated 1 million Colorado consumers were affected by the breach.

Coffman will convene a working group over the summer focused on strengthening Colorado’s data breach laws and privacy protections.

Cyberattackers accessed Target’s gateway server in November 2013 through credentials stolen from a third-party vendor.

The credentials were then used to exploit weaknesses in Target’s system, allowing the attackers to access a customer service database and capture data.

The settlement also requires Target to develop a security program, hire a third party to conduct a comprehensive security assessment and undertake steps to control access to its network.