(Bloomberg) — Home Depot Inc.'s data breach, which putabout 56 million payment cards at risk, has fed fraudulenttransactions that in some cases have drained money from customerbank accounts, the Wall Street Journal reported.

Stolen information on credit and debit cards has been used tobuy prepaid cards, electronics and groceries, the newspaperreported yesterday, citing unidentified people familiar with theattack's fallout. The amount and types of fraud are about the sameas in other big breaches, the publication cited the people assaying.

Home Depot, the world's largest home-improvement chain,announced it was looking into "suspicious activity" Sept. 2, theday it learned from banks and law enforcement that criminals mayhave obtained data. The retailer released an estimate for affectedcards last week, saying hackers' software may have infected itssystems from April to this month and that it expects to pay about$62 million this year to deal with the incursion, with some coveredby insurance.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.