Home Depot hasn't really told us much about their data breach so far, and for that, I say shame on them. One of the few things they did share though, and quite categorically, is that no debit card PINs were exposed in the breach.
If the Home Depot breach turns out to be as bad or worse than the Target breach, certain things will be unavoidable for the home improvement giant. But there are some things the company can do to help reduce the short and long term impact and cost.
If you are rigorous, you can have a six-month cushion in the bank in no time -- but you have to take the first step, which in many cases is a non-step. Leave the items on the shelf (virtual or otherwise) and keep your wallet in your pocket.
While there have been surveys that tell a different story, with at least one reporting that more than 60 percent of Target shoppers aren't too worried about their data security, the common wisdom now is that a breach can undo years of brand equity -- and that appears to be the case at Target.
Gregg Steinhafel's ouster at Target this week was a major C-Suite casualty in corporate America's war on hackers. Sales took a major nosedive after the retailer's big data security breach hit the news last December, with fourth-quarter profits down 46 percent. So what's a CEO to do?
Reality check: Hackers will always go after the weakest link. If they determine that the big guys have toughened up, they're just going to go after easier targets, like small businesses. So what is a small business owner to do?
Now that the impact of the Target data breach has grown from 40 million card members to 70 million, and to perhaps as high as 110 million, prepare for all sorts of mayhem because this data theft is just the start of things to come.
Americans are acutely aware of the threat posed by hackers and ID thieves: Fifty-five percent say they or someone they know had their email account breached; 62 percent report receiving a suspicious email from someone likely due to that person's email being hacked.
Given a "third party" lost my PCI data, and caused a cascade of events and expenses for others, that there had to be an equitable way to pass through the cost and expenses to the party responsible for the events.