Home Depot Rushes to Deploy EMV Cards in Wake of Massive Data Theft
NEWS ANALYSIS: Home Depot is accelerating the deployment of EMV chip-and-PIN cards, but that's little consolation to holders of 56 million payment cards exposed in a massive cyber-attack.As a result of the massive cyber-attack on its point-of-sale (POS) systems, Home Depot is accelerating its move to EMV chip and PIN cards. The company said all stores will be equipped with such terminals by the end of 2014. The imposition of chip-and-PIN terminals will reduce Home Depot's exposure in the future, but is unlikely to do anything in the short term to protect customers holding the 56 million payment card numbers that were compromised in the cyber-attack. The Home Depot data breach, first disclosed by the retailer in early September, affected purchases at stores in the United States and Canada between April and September 2014. According to Home Depot's announcement, the breach did not affect stores in Mexico, and did not expose PIN numbers. Canadian Home Depot stores are already equipped with EMV card readers. However, cards from those stores were also compromised and could still be used for fraudulent remote purchases.
Although counterfeit cards bearing account numbers exposed in the breach now can't be used at Home Depot, they could still be used at stores that haven't upgraded beyond magnetic-strip readers. In addition, those cards would remain vulnerable to "card not present" transactions such as phone and Internet purchases.