Home Depot (NYSE:HD) working with the Secret Service to sort out the security breach

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By Thomas Copeland on September 5, 2014 Us News

Home Depot (NYSE:HD) – the retailer for home improvement- has been in contact with the Secret Service of the US regarding the security breach that hit it stores and compromised both credit card information and customer data. This information was given by a source in law enforcement this Thursday.

The source stated that the current investigation taking place by the Secret Service seems early.

The US Secret Service is the primary agency for federal investigations on crimes for complex breaches regarding consumer data and credit cards.

The law enforcement source reported that the FBI isn’t involved in this instance which is a new thing. It remains unclear about whether the DOJ plays any part in this or not.

According to Krebs, information was released Wednesday stating that customer data was stolen from all 2,200 stores of Home Depot (NYSE:HD) in the U.S.

The retailer refrained from confirming the breach in security and it is still unclear about how many of the customers were affected.

This is not the first attack on a giant retailer. If the breach gets confirmed then Home Depot (NYSE:HD) will be among the many retailers stuck in the security breach crisis in the United States.

Paula Drake, the spokeswoman reported this Wednesday that Home Depot (NYSE:HD) will be working with various IT firms including FishNet Security and Symantec in order to investigate these data breaches. A spokeswoman for the Symantec Company stated that Symantec was definitely a part of the investigation however; she refrained from commenting any further on it.

Home Depot (NYSE:HD) rushed to prove its loyalty to its consumer pool by promising them identity-protection services without any charge which included monitoring of credit. They have reassured that it would, along with banks that will in turn issue the cards, be responsible in the cases of any sort of fraudulent charges.

Shares for the retailer peaked by 1.6 percent on the NYSE making to stand at $90.39 on Thursday morning.

The concerns for the data thefts are increasing greatly within the US. The breaches at Home Depot (NYSE:HD) follow the one at Target (NYSE:TGT) where the breach resulted in the theft of 40 million card number payments along with 70 million information pieces of its consumers data last year.

Hackers are on to retailers, tarnishing their image in front of customer pools that have been with them for years. More and more retailers are focusing on enhancing security measures for their companies so that hackers can be stopped from entering their systems. Firewalls are being established along with authorization IDs that will keep unwanted personnel out.

It is one thing that the FBI isn’t considering this incident at Home Depot (NYSE:HD) worthy of its attention. Home Depot (NYSE:HD) is still working on retaining its customers and fixing its image in the market. Many other retailers are also using help to strengthen their security systems thus giving security firms growth and market power through increased sales.

Let’s see what Home Depot (NYSE:HD) gains from contacting secret services.