Dive Brief:
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The data thieves who have been hacking into The Home Depot’s computer systems since April apparently are selling the credit and debit card information they stole in an online black market.
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About 4% of The Home Depot’s customers are builders and contractors, but they account for 40% of the big-box home-improvement chain’s sales. More than 60 million credit card numbers may have been stolen.
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The retailer is offering free credit-monitoring services to contractors and other customers who used credit or debit cards at its U.S. and Canadian stores since the spring. But financial experts are advising customers that they—not the store—are ultimately responsible for noticing if their cards have been used for unauthorized purchases.
Dive Insight:
Small business owners who used company credit cards at The Home Depot should keep tabs on their personal credit reports, too, as a fraudulent charge on a business card tied to the owner’s Social Security number could appear on a personal credit check.