Over 50 million customer card details stolen at US retailer

Synopsis

In September 2014, the hardware and building supply retailing company announced that beginning in April or May that year its point of sale systems had been infected with malware. The company later said an investigation concluded that a “unique, custom-built” malware had been used, which posed as anti-virus software.

The attack exposed email or credit card information from more than 50 million customers by infiltrating self check-out terminals.

The company estimated $161 million of pre-tax expenses for the breach, including the consumer settlement ($19.5 million to compensate US consumers through a $13 million fund to reimburse shoppers for out-of-pocket losses, and to spend at least $6.5 million to fund cardholder identity protection services) and expected insurance proceeds.

In November 2020, the company agreed to a $17.5 million settlement in a multi-state investigation of the data breach.

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Analyst

Courtenay Brammar

Experienced global enterprise risk and governance professional. Previously Vice President at Morgan Stanley, Deloitte Risk Advisory practitioner and PRMIA steering committee member in both London and New York.

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