Home Depot Breach Cost CUs $60 Million. The survey found that, in addition to the total cost to cover expenses tied to the incident, the breach had an impact on 7.2 million credit and debit cards issued by credit unions. The latest news will keep the debate going as to who’s liable for costs incurred from a breach.
The data security breach at Home Depot stores in September cost credit unions nearly $60 million to reissue cards, deal with fraud and cover other costs, according to the results of a new survey.
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Home Depot expects data breach to cost at least $34M in 2014. Home Depot said in its earnings statement Tuesday that its 2014 estimate "does not include an accrual for other probable losses related to the breach that cannot be estimated at this time." The statement says breach-related costs the company is still unable to estimate may include.
Home Depot Breach Costs CUs $60M By Nicholas Ballasy. CUNA survey of 835 credit unions reveals 7.2 million cards affected at an average cost of $8.02 per card. Read more
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The theft of credit card information from Home Depot by hackers earlier this year could affect up to 60 million customers and lead to as much as $3 billion in bogus purchases, a major credit protection firm says. Security firm BillGuard estimates 60 million accounts could be affected.
Home Depot’s hack, compromised 65 million customer credit and are estimated to be around $62 million. The company’s stock price decreased slightly one.
The Home Depot Breach and Credit Unions. indicating that fraud analytics can provide considerable security without incurring the costs of card reissue. Russ Spitler, a vice president at San.
The settlement is intended to reimburse FIs for the costs incurred as a result of the massive. given the massive scale of breaches at other mega-retailers like Home Depot that followed the Target.
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