Secret Service looking into possible data breach at Texas' Michael Stores

By VCPOST Staff Reporter

Jan 26, 2014 09:57 PM EST

Texas based art and crafts retailer Michaels Stores warned that it may have been a victim of a data security attack. The said attack comes after Target and Neiman Marcus have also confirmed experiencing data breaches, according to VentureBeat.

KrebsOnSecurity reported that at least four financial firms have observed several fraudulent charges on cards used at Michaels, which has over 1,100 outlets across Canada and the US. The US Secret Service has also confirmed that it is conducting an investigation on a potential data hack at the arts and crafts retail chain, the report detailed.

Chief Executive Officer Chuck Rubin said in a statement: "While we have not confirmed a compromise to our systems, we believe it is in the best interest of our customers to alert them to this potential issue so they can take steps to protect themselves, for example, by reviewing their payment card account statements for unauthorized charges."

According to a fraud analyst cited by KrebsOnSecurity, fraudulent purchases have been made through hundreds of Michaels Stores customer cards over the last couple of days. Many of those transactions were made at Target and BestBuy, the report explained.

A recent report says at least three retail chains aside from Target and Neiman Marcus have experienced data hacks during the holiday season, VentureBeat reported.

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