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Home Depot Breach Bigger Than Target's
Friday, September 19, 2014 5:55 AM

Home Depot reported yesterday that their data breach that occurred between April and September of this year put about 56 million payment cards at risk, making their breach larger than Target Corp's breach last year.

The Atlanta-based Home Depot released a statement, saying hackers used custom-made software to evade detection, relying on tools that haven't been seen in previous attacks. Bloomberg reports that the world's largest home-improvement chain expects to pay about $62 million this year to recover from the incursion, including additional costs for call-center staffing and legal expenses. Insurance will cover $27 million of that tab. The company claimed there's no evidence that personal identification numbers for debit cards were compromised.

Cornerstone Credit Union League's President/CEO Dick Ensweiler said, "Merchants, as part of the card payment system, need to take responsibility for lapses in security that result in breaches. Once again, Credit Unions have to spend money to reissue cards and pay for fraud losses, due to yet another retailer's failure to eliminate or protect card data, as they have agreed to do."

Ensweiler adds, "Consumers are once again forced by retailers to spend time re-establishing automatic payments on reissued cards due to the failure of a merchant to protect sensitive card data. It is time for retailers to invest the funds in data security to hold up their end of the payment card system."