Criminals Using Data Stolen in Home Depot Breach to Drain Accounts
The Home Depot (NYSE:HD) data breach – which compromised some 56 million credit and debit card accounts – is to blame for a recent outbreak of fraudulent bank transactions, according to a report from the Wall Street Journal.
Sources familiar with the incident tell the Journal that criminals are using data stolen in the hack attack to buy prepaid cards, electronics, and groceries, with numerous cases popping up across the U.S. According to the report, some of the illegal transactions have been traced back to batches of cardholder accounts tied to specific zip codes.
Last week, Home Depot confirmed that 56 million customer accounts were put at risk following a five-month long infiltration of its payment network. The home-improvement retailer began investigating the incident on September 2.
Home Depot said customers will not be liable for any fraudulent charges stemming from the breach. In the meantime, cybersecurity experts urge Home Depot shoppers to keep a watchful eye on their bank statements for any suspicious activity.