Thursday, September 11, 2014

If you used a debit card at Home Depot, change your PIN

Banks see spike in ATM Fraud after Home Depot compromise:
Nearly a week after this blog first reported signs that Home Depot was battling a major security incident, the company has acknowledged that it suffered a credit and debit card breach involving its U.S. and Canadian stores dating back to April 2014. Home Depot was quick to assure customers and banks that no debit card PIN data was compromised in the break-in. Nevertheless, multiple financial institutions contacted by this publication are reporting a steep increase over the past few days in fraudulent ATM withdrawals on customer accounts.

 The card data for sale in the underground that was stolen from Home Depot shoppers allows thieves to create counterfeit copies of debit and credit cards that can be used to purchase merchandise in big box stores. But if the crooks who buy stolen debit cards also are able to change the PIN on those accounts, the fabricated debit cards can then be used to withdraw cash from ATMs.
If you've used your debit card at a Home Depot in the last few months, change your PIN.  Better safe than sorry.

4 comments:

  1. B September 11, 2014 at 2:40 PM

    Smarter solution:

    Don't use a debit card at *ALL*.

    Use only credit cards for purchases. Worst thing that happens is that someone gets your credit card and maxes out your card...which is a hassle, but not a big deal like having your bank account emptied.

    Pay off your purchases, of course, don't carry a balance.

    The fraud protections are better with Credit as well.

    I've been down that road, and believe me, my way is less hassle.

    ReplyDelete
  2. Jake (formerly Riposte3)September 11, 2014 at 3:53 PM

    There's a reason I a) only run it as credit, and b) have a separate account for recurring bills and another for emergencies (and having my card compromised does qualify as an emergency).

    ReplyDelete
  3. RatusSeptember 11, 2014 at 4:18 PM

    I have a question BP; how do you change the PIN on a twenty dollar bill?

    :D

    ReplyDelete
  4. FrankCSeptember 11, 2014 at 7:39 PM

    If the bad guys change the PIN on your cloned card before you can, you won't be able to use your card to change said PIN. Or for anything else really.

    ReplyDelete

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