Target Gives a Defense of its Efforts on Security

In advance of next week's annual shareholders’ meeting, Target defended its management and oversight of customer data despite the extensive hacking it experienced last year. In a letter to shareholders filed with the Securities and Exchange Commission, Roxanne Austin, the interim chairwoman of Target's board, listed steps the company had taken toward increasing information security since the breach last year, and described the security apparatus in place before the attack. "Breaches are occurring across the economy and are affecting a wide range of victims including the U.S. government, technology and defense industries, and more traditional companies, like retailers."