Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Home Depot's CEO says chip-enabled terminals will be activated by end of year

NEW YORK, N.Y. - Home Depot's outgoing CEO Frank Blake told investors Thursday that the nation's largest home-improvement chain continues to investigate a potential breach at the company and reassured that customers will not be liable for any potential fraudulent charges.

In his first public comments about the issue, Blake didn't confirm that a breach actually happened but said that Home Depot found out about the possible data theft early Tuesday.

He told investors during an address at the Goldman Sachs Global Retailing Conference on Thursday, that companies in this situation have a choice: to wait or "communicate the facts as you know them."

"We chose the latter path," he said.

Blake told investors that Home Depot will be activating chip-enabled checkout terminals at all of its stores by the end of the year. That technology helps makes transactions more secure.

"Cybersecurity is a major issue," he added.

Home Depot said on Wednesday that it has hired security firms Symantec and FishNet Security to help it investigate the possible hacking.

The possible breach at Home Depot was first reported by Brian Krebs of Krebs on Security, a website that focuses on cybersecurity. Krebs said multiple banks reported "evidence that Home Depot stores may be the source of a massive new batch of stolen credit and debit cards" that went on sale on the black market earlier Tuesday.

Krebs also reported that a preliminary analysis indicates the breach may have affected all 2,200 Home Depot stores.

Hackers have broken security walls for many retailers in recent months, including Target, grocer Supervalu, restaurant chain P.F. Chang's and the thrift store operations of Goodwill. The breaches have rattled shoppers' confidence in the security of their personal data and pushed retailers, banks and card companies to increase security by speeding the adoption of microchips in U.S. credit and debit cards.

Target, based in Minneapolis, is still trying to get beyond its massive breach that occurred late last year and hurt sales, profits and its reputation with customers.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100

Social Media

Canadian Mortgage Rates