Wednesday, September 03, 2014

Home Depot is the latest big retailer to have a major breach


Home Depot is the latest company with a security breach, apparently affecting debit cards, up to 40 million customers, Wall Street Journal story here

I purchased a small GE replacement refrigerator on a credit card from a Falls Church VA store last spring without incident.

The use of more modern chip technology in both debit and credit cards is beginning to seem more critical and many banks will have it available by 2015.
 
Update: Sept. 19
 
Home Depot offers a statement on the breach here.  
 
Bloomberg Business Week has a detailed story explaining the hack, and how it could affect consumers.   It predicts that 70% of affected consumers may find at least one fraudulent purchase, likely of a big ticket item.  The story also explains the practice of "friendly fraud".  

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