Apparently, Target knew about possible security issues with its payment system and was warned about it by a security analyst who wanted to do an audit but his request was brushed aside. This bit of interesting news came from WSJ and a banker site (USA Today) so we do want to take it with a little grain of salt until we can learn more about it.
Still, given the way Target has been dealing with this and how unwilling they are with releasing new information, I'd tend to believe this information.
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