Photo by Mike Mozart CC by 2.0
Just when you thought things couldn’t get any worse, another major retailer may have been compromised by a credit card data breach. Following in the footsteps of Target and Home Depot, Staples is the latest retailer to be hit with a potential credit card data breach. The breach couldn’t have come at a worse time – it comes amid the chain’s plan to close as many as 225 stores in Canada and the U.S.
What We Know So Far
Staples is in the midst of investigating a possible breach of customer credit card data. The world’s largest office supply chain is the latest in a string of retailers to face threats from hackers. Staples isn’t taking the breach lightly – it has been in touch with law enforcement authorities and is looking to resolve the issue in a timely manner.
“Staples is in the process of investigating a potential issue involving credit card data and has contacted law enforcement,” Staples said in a statement.
Staples is echoing a statement similar to other retailers affected by data breaches: customers are not on the hook for fraudulent charges. “If Staples discovers an issue, it is important to note that customers are not responsible for any fraudulent activity on their credit cards that is reported on a timely basis,” said Staples.
Staples is assuring customers it takes data breaches very seriously and is doing everything it can to get to the bottom of the situation. “We take the protection of customer information very seriously, and are working to resolve the situation,” the company said.
Who is Affected?
Staples is remaining tight-lipped about who may be affected by the data breach. It’s currently unknown if Canadian Staples locations are affected. However, there are unconfirmed reports that it may involve the theft of data from Staples locations in the Northeast U.S. In fact, one location in New Jersey, three locations in New York, and seven locations in Pennsylvania may have been affected. The alleged fraudulent charges took place at other retailers like supermarkets. This has led to speculation that cash registers at Staples may have been inflicted with card-stealing malware.
What is Malware?
Malware – short for “malicious software” – is designed to disrupt a computer’s operation, access personal information, or perform unauthorized activities. Common types of malware include computer viruses, spyware, Trojan horses, and worms.
Similar to your home computer, retailer computers and cash registers can be infected with malware. This is especially alarming, since cybercriminals may be able to steal highly sensitive information, including your credit card and banking information. Signs a computer may be infected with malware include system performance issues and difficulty accessing the Internet.
Why Using Your Credit Card is Still Safe
With yet another possible credit card breach, it’s only natural to think twice about using your credit card. But cardholders rest assured, it’s still safe to use your credit card. Here are some reasons to still use your credit card.
Limited Liability: If your wallet is lost or stolen, chances are your cash is as good as gone. However, unlike cash your credit card offers better protection. Major credit cards come with a zero-liability policy where you won’t be held responsible for fraudulent charges in most cases.
Added Protection: Using your credit card over your debit card and cash offers added protection. Besides reward points, many credit cards offer added protection like insurance on car rentals and extended warrantees. You won’t be able to take advantage of those perks if you stop using your credit card.
Chip-and-PIN Credit Cards: Credit card issuers take fraudulent charges very seriously – that’s why security upgrades like Chip-and-PIN credit cards have been introduced. Even if your credit card is stolen, the thieves won’t be able to make larger purchases – typically over $50 – in brick-and-mortar locations without your PIN.
The Bottom Line
Although fraud is one downside of credit cards, the benefits far outweigh the risks. By taking the necessary precautions to better protect yourself, you’ll be less likely to be a victim of fraud. If you fear you’ve been a victim, it’s important to keep a close eye on your statement and report any suspicious charges immediately.
