Last month Home Depot confirmed its computer systems had been targeted in a recent data breach, and up to 60 million customers credit card information and PIN numbers were stolen. While you can't prevent cyber attacks on retailers, there are definitely some steps you can take to minimize your risk should a data breach occur.
- Consider a new way to pay. Third party payment methods are much safer than swiping your debit card in the store. Third party services like these have your credit card information stored and do not give the retailer your payment information when you make a purchase. However, many retailers do not yet accept third party services so store valued cards or phone apps are another good choice as your credit card information is not exposed.
- If you do choose to swipe your card in the store, it is safer to process the purchase as credit rather than debit. When you process a payment as debit you must enter your PIN into the key pad which then saves your PIN into the retailers data base. Hackers can do more damage with PIN numbers - like creating a second copy of your debit card and withdrawing money directly from your account.
- Regularly check your credit card statements. By checking your credit card statements regularly, your chances of catching suspicious activity as it happens increases and you will suffer less damages. Thieves often make purchases in small amounts and then later begin to make larger ones.
- When the Home Depot data breach occurred many people reported receiving emails from Home Depot offering free credit monitoring. These emails were distributed by scammers looking to gain access to unsuspecting recipients personal information. If you receive an email making claims like this you are better off ignoring it. If the email looks credible you should only move forward after going straight to the source to confirm its credibility.