Home Depot is the latest company to fall victim to a high-profile cyber attack. According to Bloomberg Businessweek, a massive batch of credit and debit card information that went on sale on a criminal Internet site Tuesday may be from Home Depot stores and could be linked to hackers responsible for breaches at Target and P.F. Chang’s, say security experts.
The breach could have begun in late April or early May of this year, which gives the cyber criminals opportunity to do much more damage than if the hack was discovered immediately. Experts say the breach could be larger than the Target breach, in which 40 million credit and debit accounts were compromised over a three-week period.
Security breaches can cause companies significant losses. Target is still recovering from a massive data breach it suffered last year. In its latest earnings announcement, Target cut its annual profit outlook in part because of the breach, which has cost the retailer $146 million for the year. A breach like this could destroy a smaller enterprise.
With the proliferation of cybercrime, it is no longer a matter of IF a business will get backed, it is a matter of WHEN. If hackers can breach large companies like Target, SuperValu and Home Depot, how can a SMB with a limited budget protect against hacker attacks?
Security initiatives are an essential component of a business’ IT infrastructure.
ACE IT Solutions has partnered with IBM to offer security solutions tailored specifically for SMBs. ACE IT Solutions’ Security Services, offered in partnership with IBM, provide a simple and cost-effective way to limit potential threats 24×7. Contact us today at 646.558.5575 for a free network security audit.