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Home Depot Breach Costs CUs $60M

Posted on October 30, 2014 by Dissent

Nicholas Ballasy reports:

The Home Depot data breach cost credit unions almost $60 million, nearly twice as much as the Target breach, according to survey results released by CUNA Thursday.

In the survey conducted from Oct. 1 to Oct. 24, 835 credit unions reported that 7.2 million credit union debit and credit cards were affected by the breach.

CUNA said the average cost for each violation was $8.02 per card due to fraud, reissuing cards and related costs.

Read more on CreditUnion Times.


Related:

  • Cost of Target data breach exceeds $200M so far just for card replacement-related costs for 22M customers
  • In Wake of Confirmed Breach at Home Depot, Banks See Spike in PIN Debit Card Fraud
  • Credit Unions, Trades Sue Home Depot
  • IRS’s Top 10 Identity Theft Prosecutions
  • The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax
Category: Business SectorID TheftU.S.

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