The Death Of The Magnetic Stripe Claims A Scalp As Target CIO Resigns

Beth Jacob, Target’s chief information officer, is resigning her position effective today, the AP reports. Though the company claims the move was Jacob’s decision, some analysts say she became a “scapegoat” in the wake of a credit card hack that exposed 40 million Target customers’ financial data in December 2013. 

The massive data breach that hit customers during the holiday season was partly at fault for the company’s below-average fourth-quarter earnings, as consumers apparently lost confidence in the company’s security. It also highlighted the fundamental insecurity of our current system of plastic payment cards.

Image courtesy of Jeepers Media on Flickr

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