By David Madden
TRENTON, N.J. (CBS) – New Jersey’s senior senator wants some answers into how last week’s massive security breach involving some 40 million Target customers could have possibly happened.
Bob Menendez is calling on the Federal Trade Commission to, in effect, turn up the heat on Target and other retailers to make sure customer security is placed ahead of corporate profits.
“Companies don’t always apply the highest standard of security systems that exist because they sometimes just don’t want to make the investment and avoid the cost,” he said.
If they don’t do this, consumer confidence becomes shaky, which could affect the economy.
“I want to know if the Federal Trade Commission has the teeth to hold retailers who failed to protect their customers’ personal information to account,” Menendez said. “And if they don’t, then I want to know what additional legislative authority they need.”
Menendez promises to draw a bill that would grant the FTC whatever added authority they need, which would likely be followed by public hearings into how the breach occurred and who should pay for it.