By Jennifer Ludden, Bloomberg The thieves who stole $2.7 billion worth of credit card data from the U.S. Federal Reserve and Target last year may have gotten their hands on the data from an unnamed Chinese company, according to a law enforcement source familiar with the investigation.
The source told Bloomberg News on Thursday that authorities in China had recovered the card data, which was stored on Chinese companies and led to an investigation.
“This was the biggest breach in the history of our industry,” a source with knowledge of the matter said.
“There is no doubt it was a huge breach,” the source added.
“The thieves were able to access the card information, but the card was encrypted and there is no way they could access it.”
The source also said there was no indication that anyone in the U to U.K. and the U in China were targeted by the thieves.
A law enforcement official told Bloomberg there was “no indication that any other Americans were involved.”
Target said the stolen data had been used to create cards that were used in at least eight countries, including the U.
“The FBI, the Department of Justice and other law enforcement agencies are investigating.
The Federal Reserve is one of the largest financial institutions in the world, but it has not issued a new credit card in about six years.
The credit card company said it was unable to provide details about the stolen cards because they are being used to make counterfeit and stolen cards.”
Target believes it has a robust, global and secure credit card program and the stolen information does not appear to have been used for that purpose,” a spokesman said in a statement.”
We remain vigilant and continue to work with law enforcement to recover the stolen card data.
“The Federal Trade Commission has opened a fraud probe into the matter.
The U.N. Security Council is also investigating the incident.