The week does not start well when banking and law enforcement officials tell you they’ve traced fraudulent credit/debit card activity to a number of your Point of Sale (POS) keypads. Several Michaels Craft stores in the Chicago area were originally thought to be the center of large scale card information theft. Unfortunately for Minchaels, the loss is not confined to Chicago as compromised POS keypads have turned up in other parts of the country.
Data stolen from compromised POS keypads is being used to create counterfeit cards which are then used in tandem with stolen PINs to withdraw money from ATMs. Investigators believe losses from the fraud are now in the millions of dollars and potentially impacting thousands of victims. The investigation has been turned over to the Secret Service.
Currently, the best advice for those having made purchases at Michaels is to watch your statements closely and report any unusual activity. But then, you already do that, right?