Report: Banks sue security firm and Target over data breach

New York -- A pair of banks has filed suit against Target Corp. and security firm Trustwave, alleging damages suffered after the retailer’s holiday season data breach and accusing Trustwave of failing to identify security gaps.



According to a report by Reuters, which cited the American Banker, Trustmark National Bank and Green Bank N.A. are seeking damages of more than $5 million and named Trustwave Holdings and Target as defendants.



The banks allege that the vulnerabilities in the Target system were either undetected or ignored by Trustwave, which gave hackers access to millions of card accounts and personal records.



About 40 million payment card records were stolen from Target, along with 70 million other sensitive records, during the 2013 holiday shopping season.