Southern Nevadans who shopped at Target during a credit and debit card data breach should be receiving new cards from their banks or credit unions.
One Nevada Credit Union, Nevada State Bank, Wells Fargo &Co. and other major financial institutions were affected by the 19-day breach, which some industry analysts say is among the largest recorded data security breaches.
One Nevada Credit Union says about 7,000 debit cards and about 500 credit cards will have to be replaced. The Las Vegas-based credit union has 75,190 members statewide.
“We are being proactive,” said Greg Barnes, senior vice president of marketing with One Nevada. “We have reached out to our members and told them that their debit or credit cards would be replaced.”
Barnes said the cost of the Target breach has been “very minimal,” about $2,000.
Banks and credit unions will bear the expense of reissuing cards. Barnes stressed that One Nevada members are not liable for any losses.
Nevada State Bank and Wells Fargo didn’t release card replacement or cost figures.
Target operates 19 stores in Nevada, with 16 in Clark County.
“Nevada State Bank determined from the beginning that a reduction of risk was the best possible option for our credit and debit card clients impacted by the Target card data breach,” said Greg Kirkland, executive vice president and director of retail banking.
Kirkland said Nevada State Bank is urging its clients to monitor their accounts. He said the Las Vegas-based bank is issuing new cards to all affected customers.
“We reached out via phone and email to advise impacted clients of the actions we were taking,” Kirkland said.
“It is always important to monitor your accounts for fraudulent activity and notify your institution if you see anything inaccurate.”
Natalie Brown, a Wells Fargo spokeswoman, said that to prevent fraud, the bank continually monitors cardholder accounts for unusual patterns and card activity.
She said that if the bank believes security is at risk, “we’ll take action to safeguard customers’ accounts, which may include replacing the card entirely.”
Brown recommended that customers monitor their accounts for any suspicious transactions and call the number on the back of the card if they see anything they do not recognize.
The breach exposed the credit and debit card information of 40 million people who paid with plastic at Target stores nationwide between Nov. 27 and Dec. 15.
But don’t expect it to change the way retailers and financial institutions do business.
“Memories tend to be short,” said Greg McBride, a senior financial analyst and vice president with Bankrate.com. “A month from now, everybody will be worked up about a celebrity scandal or something else in the news cycle.”
McBride reminded consumers that as long as they report any incident to their bank or credit union, they won’t be liable for any losses.
He said consumers need to keep tabs on their accounts routinely, and not just when there is a breach.
McBride argued against consumers abandoning their credit or debit cards for cash. He said if you’re paying cash, “who’s got your back if you lose it?”
“That’s not to say if someone drains your checking account, you’ve got to get the toothpaste back in the tube,” McBride said. “It can be a hassle.”
Contact reporter Chris Sieroty at csieroty@ reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.