September 23rd, 2014 by Elma Jane
Home Depot, US retail chain says that 56 million payment cards are at risk following a malware-laden cyber-attack on eftpos tills across its stores in the US and Canada.
The investigation into a possible breach began on September 2nd,Tuesday morning, immediately after Home Depot received reports from its banking partners and law enforcement that criminals may have breached its systems.
According to Home Depot’s security partners, the malware had not been seen previously in other attacks.
Criminals used unique, custom-built malware to evade detection. The cyber-attack is estimated to have put payment card information at risk for approximately 56 million unique payment cards, after lurking in the company’s eftpos tills for four months between April and September.
While the breach has been seen as a further proof-point in the US push to adopt Chip and PIN at the point-of-sale, the fact that the outbreak also hit the home improvement chain’s Canadian stores, where the EMV standard has been implemented, leaves pause for thought. Nonetheless, the retailer has committed to installing 85,000 PIN pads at its US outlets, well ahead of the national 2015 deadline.
Home Depot has set aside $65 million to cover the cost to investigate the data breach, provide credit monitoring services to its customers, increase call center staffing, and pay legal and professional services. Approximately $27 million of the projected outlay will be covered by the company’s insurance.
Posted in Best Practices for Merchants, EMV EuroPay MasterCard Visa, Point of Sale Tagged with: banking partners, Breach, call center, card information, cards, Chip and PIN, credit monitoring, credit monitoring services, customers, cyber-attack, data breach, EMV, EMV standard, Malware, payment, payment card information, payment cards, PIN pads, point of sale, risk
