National craft retail chain Michaels Stores, Inc., recently learned of possible fraudulent activity on some payment cards used at Michaels, suggesting the company may have suffered a data security attack.
The company released a statement addressing the possible security breach, stating that the company is working closely with federal law enforcement as well as third-party security experts to investigate.
Although the breach is not yet definite, the company alerted customers in light of other recent attacks on U.S. retailers. That includes the Target security breach that affected up to 70 million individuals, according to the most recent release Jan. 10.
The Target breach included possible unauthorized access to names, mailing addresses, phone numbers and email addresses. Michaels has not yet stated specific information they believe to be at risk, as they have not yet confirmed a breach within stores.
“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, Micheals CEO. “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.”
The company recommends that customers who detect any incident of theft or fraud promptly report the incident to law enforcement or the state Attorney General. Michaels has arranged for all affected customers to receive free identity protection and credit monitoring services from AllClearID.
“Throughout our 40-year history, our customers have always been our number one priority and we deeply regret any inconvenience this may cause,” said Rubin. “The privacy and security of our customers’ information is of critical importance to us and we are focused on addressing this issue.”