Data breach of Home Depot (NASDAQ:HD) that would impact millions!

As stated and confirmed by 24/7WallSt, the data breach of Home Depot Inc. (NASDAQ:HD) could impact millions of people. The exact number of people getting affected could be about a sixty million which is an extremely large number of people ever affected in cyberfraud! Furthermore, about $2 million to $3 million would be lost in absolute fraud numbers.

As has been cited and confirmed by BillGuard’s research the exact percentage given to the number of clients and their accounts which would suffer some kind of fraud sooner or later is 10-15%. The average amount of the fraud which should be expected is stated to be $332. This can more or less affect the entire group of people, whose accounts have been compromised and are now under threat.

Home Depot Inc. (NASDAQ:HD) is based in Atlanta and focuses on improving home conditions and is a retailer present all over the country. It has been stated by the company that customers that used their payment cards in Canadian and US stores would be impacted by this breach. However, the surprising thing is that the stores in Mexico along with online shoppers would not be impacted. Well, this is what the investigation has revealed so far. If more evidence is unearthed which points towards more countries being affected this list will get longer.

These are bleak circumstances which will lead to the loss of customers and the brand goodwill which these customers hold in the company. At this moment no indication is given by the investigators that the debit card PIN numbers were compromised. People seem to be holding their breath as more details are made public regarding the breach and which medium it has hit.

Home Depot Inc. (NASDAQ:HD) has been researching diligently regarding this cybercrime and has taken serious actions regarding the safety of customers of the company in future transactions. The investigation is to be focused on the months after April and for the time being caution and prevention is being taken by the company to ensure security against any kind of future threats. Addressing the vulnerability towards malware is also among the key concerns for the company right now.

The company has come up with an amazing solution to counteract the events which can potentially ruin the company. Every person who has shopped at Home Depot (NASDAQ:HD), starting April 2014, can get identity protection services absolutely free. This includes card monitoring services which otherwise cost a lot of money but will be paid by Home Depot (NASDAQ:HD). This situation puts light on the fact that online data storage for most information is extremely vulnerable and will have trend impacts for card usage. The numbers which will hit Home Depot (NASDAQ:HD) in the future would amount to about $3 Billion whereas their revenue in 2013 which a staggering $78 Billion. However, since monetary losses are not the bigger concern here, that’s why Home Depot (NASDAQ:HD) is offering free identity protection and card monitoring services to rebuild some of the damage done in the minds of its customers.