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The Home Depot, Inc. (HD) Provides Info About Data Breach: 53 Million Emails Stolen

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The home improvement and construction equipment retailer, The Home Depot, Inc. (NYSE:HD) provided more details about the month long data breach of debit and credit cards that had occurred at its stores in September. The company reported that more than 53 million email addresses were stolen by hackers in addition with customer information of close to 56 million. The Home Depot, Inc. (NYSE:HD) in a statement reported that the particular data breach would cost the company close to $62 million.The Home Depot, Inc. (HD) Provides Info About Data Breach: 53 Million Emails Stolen

According to reports, hackers used information of a third party vendor to get access to the billing system, a modus operandi very similar to the one used when retailer Target was attacked in 2013 during the pre-Christmas period.  Security experts are blaming the retailers for the continued attacks as they believe retailers like The Home Depot, Inc. (NYSE:HD) have been unable to isolate sensitive sections of their networks, easily accessible to outsiders.

The Home Depot, Inc. (NYSE:HD) on its part has been busy identifying customers who might have been affected by the attack and providing to them a one year free credit monitoring service. The good thing was the data stolen with email addresses did not contain sensitive information like passwords, but experts warn that customers can become prey to phishing scams that can be used by sending texts or emails and extract personal information.

The Home Depot, Inc. (NYSE:HD) has reaffirmed that it would start using chip enabled cards at all its check out points which is being seen as a huge positive. Security experts believe that all companies in the US need to seriously look at network security as data breaches might happen over and over again in the time to come as businesses become more global.

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