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US banks racing to replace cards after Target hack

Banks across the US are working to provide customers with replacement credit and debit cards following the hacking attack on retail giant Target.

Around 40 million consumers had their financial details stolen when hackers breached the department store's computer systems, leaving banks to deal with numerous instances of identity theft.

However, banks are taking differing approaches when it comes to dealing with customers that have been affected, the Times Free Press reports.

Some, like First Tennessee bank, are issuing replacement cards to account holders as soon as possible, while others, like Regions Bank, is sending out warnings and has raised security for customers that are potential victims.

Spokesman Jeremy King said the move "enhances our ability to detect any unusual activity".

Although extensive amounts of information was stolen in the attack, including Pins and card expiration dates, the thieves will not be able to start using the data unless they can decrypt it.

Target spokeswoman Molly Snyder told the Associated Press that the company is "confident that [Pins] are safe and secure".

"The Pin information was fully encrypted at the keypad, remained encrypted within our system, and remained encrypted when it was removed from our system," she added.

By Claire Archer