In this modern era of technology, we extensively make use of virtual money. Credit and Debit cards have become an integral part of the world’s economy. Due to this extensive usage of cards, we have become a “cashless society”. We make use of credit cards to make online payments, to buy items at retailers and grocery stores; almost anywhere we go and purchase, we extensively make use of credit cards. This over dependency and usage of credit cards has given rise to new form of crime called the Credit Card fraud.
Credit card fraud is the use of one person’s credit card information for the purpose of stealing, offers criminals one of the fastest routes to riches today. A recent survey showed that 10 % of the population here in the United
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Thirdly, not only does credit card fraud usually remain undetected until long after the criminal has completed the crime, but also the law enforcement is lax(Credit Card Fraud: The Neglected Crime. (n.d.)).
Talking about credit card fraud, every week seems to bring news of one or the other data breach at U.S retailer. First it was Target, then Neiman-Marcus, followed by Michaels, and now the hotel company White Lodging, which manages hotel franchises for chains such as Marriott, Hilton, and Starwood.
The latest to join the list is Home Depot, which is an American Retailer of home improvement and construction products and services. Home Depot is the largest home improvement retailer in the United States with revenue of about 75 Billion USD (Statement 1. (n.d.)).
Recently on September 8th, Home Depot confirmed that an estimated 56 Million payment through credit cards were exposed in the data breach at its U.S. and Canadian stores. The incident is larger than the Target Corp. breach, where 40 million credit and debit card details were compromised, but falls behind 2008 Heartland breach, in which an estimated 100 million cards were compromised.
Home Depot further updated that the criminals involved in the cyber-attack against it used custom-built malware, which has not been used in other attacks. The malware was present on Home Depot 's payment systems between April and September and was used to skim payment-card data (Statement 1. (n.d.)).
The
Home Depot’s retail strategy is one of reasons for its fast growth and continued leadership in the home improvement retailer industry. Its focus on speed, efficiency, and quality has made it one of the largest retailers in the world. Home Depot focuses on being a leader in “product authority.” Walmart and Costco are leaders
The Home Depot (Ticker: HD) is the world’s largest home-improvement retailer along with being an American Fortune 50 company. The company operates 2,259 retail building supply/home improvement “warehouse” type stores all across the United States, Canada and Mexico. The Home Depot has over 340,000 team members and is based in Atlanta, Georgia. The average store size is just over 100,000 square feet along with an additional 24,000 square feet set aside for seasonal gardening.
Home Depot’s corporate-level strategy is one of internal growth. This conclusion was reached based on the increased focus that Home Depot has placed on growing its existing online and traditional retail operations. Between 2016 and 2018, Home Depot is expected to invest approximately four billion dollars into improvements in its online and physical retail locations in order to make both work more synergistically and grow sales (Petro, 2016). Home Depot hopes that these investments will continue to increase sales at both its physical and digital retail locations, thereby growing the company without adding significant numbers of physical locations.
The Home Depot is the fastest growing retailer in U.S. History and currently has more than 2,200 convenient locations throughout the United States (including the territories of Puerto Rico and the Virgin Islands), Canada, China and Mexico. Stores average 105,000 square feet with approximately 23,000 additional square feet of outside garden area (The Home Depot, 2012). The retail inventory consists of up to 40,000 different kinds of building materials, home improvement supplies, appliances and lawn and garden products for all of your project needs. Selections may vary from store to store because
Home Depot may be the first stop for home change needs. Be that as it may, prior in 2014, it succumbed to digital thieves who stole up to 60 million card details. The assaults continued for five months prior to they were found. In September 2014, the organization said that any individual who utilized a Visa to shop in the U.S. on the other hand Canada over a six month period could have been a casualty. At the time, Home Depot CEO Frank Blake called security a "noteworthy issue" and attempted to console clients by saying the retailer had reinforced its lines of barrier.
card fraud. In reference to money Laundering we will the complex process of how criminals
Home Depot is one of the most recognizable brands in Home Improvement. It also holds the largest market value in its industry. In 2017 Home Depot’s market value was over 206 billion dollars, its closest competitor, Lowe’s, held only 69 billion in market value (Net Advantage, 2017). During the
The Home Depot, Inc. (The Company) is the largest home improvement retailer in the world and the second largest retailer in the United States. The Company has been publicly traded since 1981 on the New York Stock Exchange under the ticker symbol "HD" and is included in the Dow Jones Industrial Average and the Standard & Poor's 500 Index.
Founded in 1978 by Arthur Banks and Bernie Marcus, who were both fired from a local hardware store after a disagreement with their supervisor (http://founderbios.com/bernie-marcus.php), Home Depot opened its first store in Atlanta, Georgia on June 22, 1979 (www.corporate.homedepot.com). The founders had a vision to create a big-box retail chain that empowered customers to take on their own home improvement and repair projects. As the fourth largest retailer in the U.S. and the world’s largest home improvement retailer
Cyber criminals armed with custom-built malware stole an estimated 56 million debit and credit card numbers from Home Depot customers between April and September 2014. This is largest retail card breach on record.
The Home Depot is a large American big box retailer supplying construction and home improvement products, with+ over 2,100 retail stores in the US, Puerto Rico, The US Virgin Islands and Guam. The company headquarters is in Georgia Atlanta.
Another victim was Home Depot. The stolen username and password did not give the criminals direct access to Home Depot 's payment system. But it did give the hackers access to a part of the company 's network from where they could deploy malware on self-checkout systems in stores in the U.S. and
Home depot the perennial home improvement giant occupies three top 5 categories in the retail business. Home depot is the number 1 home improvement retailer and the 4th largest retailer in the U.S. they also are considered the 5th largest retailer in the world (Home Depot, 2015). To view the magnitude of Home Depot’s presence they are considered the “The Company is already the largest home improvement retailer in Mexico, in addition to the U.S. The Home Depot entered Canada in 1994 and Mexico in 2001 through a combination of acquisitions and organic growth” (Home Depot, 2015). Their approach to marketing is through market dominance where competitive pricing is their motto.
The Home Depot Inc. was founded in 1978 and is the world’s largest home improvement retailer and the second largest retailer in the United States. The sales for the fiscal year 2000 were $45.7 billion, compared to $38.4 billion in fiscal 1999. As of January 2001, the company was operating 1,134 retail stores in forty-seven states, six Canadian provinces, Puerto Rico, Chile and Argentina.
In business since 1997, Heartland Payment Systems Inc. (Heartland) based out of New Jersey (Smith, 2014), acts a merchant acquirer that receives and stores consumer payment information (Cheney, 2010). Heartland does this by collecting data from a merchant then sending it out to the appropriate card supplier for payment (Cheney, 2010). This includes credit card details, personal customer data, and purchase amounts from card suppliers like Visa, Master Card, American Express, and Discover Financial Services (Cheney, 2010).