Home Depot Confirms Hacking Attack

09 Sep, 2014

Shares of Home Depot sank before the opening bell Tuesday after confirming that its payment systems had been hacked, potentially exposing millions of shoppers who used credit and debit cards at its more than 2,000 U.S. and Canadian stores.

The breach could turn out to be one of the biggest in history. Home Depot did not say how many cards might be affected, but the largest U.S. home improvement chain did say late Monday that its investigation into the breach goes as far back as April.

The news comes nearly a week after a website that focuses on cybersecurity reported on Tuesday a possible hack of Home Depot’s data. The company said later that day that it was investigating the potential breach.

“We apologize for the frustration and anxiety this causes our customers, and I want to thank them for their patience and support as we work through this issue,” Chairman and CEO Frank Blake said in a press release.

Home Depot is the latest retailer to have a data breach. Others include Target, luxury retailer Neiman Marcus, grocer Supervalu, restaurant chain P.F. Chang’s and the thrift store operations of Goodwill.

Home Depot, which said malware was used in the hack, has announced that it plans to have chip-enabled checkout terminals at all of its U.S. stores by the end of this year.

In the meantime, the Atlanta company said its IT department also is looking into the breach and is working with outside firms, its banking partners, and the U.S. Secret Service. It added that customers will not be held responsible for fraudulent charges to their accounts.

AP

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