14 DAY TRIAL // Arts and crafts retail chain Michaels Stores is working with law enforcement and information security experts on investigating what could be a data breach.
According to a statement published over the weekend, the company has launched the investigation after learning of possible fraudulent activity on some payment cards that had been used at the retailer.
“We are concerned there may have been a data security attack on Michaels that may have affected our customers’ payment card information and we are taking aggressive action to determine the nature and scope of the issue,” said Chuck Rubin, the CEO of Michaels.
“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,” Rubin added.
“Throughout our 40-year history, our customers have always been our number one priority and we deeply regret any inconvenience this may cause. The privacy and security of our customers’ information is of critical importance to us and we are focused on addressing this issue.”
To prevent any unfortunate incidents, those who have used their payment cards at Michaels stores recently are advised to order a free credit report so that they can identify unauthorized transactions.
In addition, the company is prepared to offer free identity protection and credit monitoring services with AllClear ID. Additional details will be made available once the complete extent of the incident is determined.
If it turns out that Michaels has really suffered a data breach, it will join the growing list of major US retailers that have been targeted by cybercriminals over the past period. So far, we know that 40 million payment cards have been compromised in the Target breach and 1.1 million in the Neiman Marcus hack attack.
This could be the second cybercriminal operation targeting Michaels in the past years.