Remember last January when you learned that a
huge company's computer system had been breached and that your sensitive financial data and credit card information could have been stolen?
We're now learning just how big that hole really was.
TJX, the firm that owns HomeSense and Winners in Canada, along with several big department store chains in the U.S., now admits that as many as 45.7 million credit and debit cards were snatched from its computers over an 18-month period.
The massive theft affects people in Canada, the U.S. and even the United Kingdom.
Worse yet, another 455,000 customers who didn't even use a card could have been compromised.
That group consists of people who returned an item to any of the stores without a receipt. They were asked to give personal information for the store's records, including driver's license information.
All that was taken, too.
The thefts occurred as early as 2005 and continued undetected until at least mid-December 2006.
But the company maintains up to 75 percent of all the information pilfered involved either expired credit cards or data that was successfully scrambled by TJX's computer system. That still leaves 25 percent of customers vulnerable, a huge amount that one security expert calls "the biggest card heist ever."
The revelations came out in a regulatory filing the business giant is required to make in the U.S.
TJX insists it's done everything to repair its systems, that no one was affected after December 18, 2006 and things are very safe now.
And the president of HomeSense and Winners has previously stated his belief that
Canadian debit cards weren't affected by the theft.
The corporate giant is facing a possible American government probe for allegedly failing to disclose the problem to consumers sooner than it did.
Meanwhile, cops have made a minor breakthrough in tracking down the whodunit in this computer caper.
Six people were charged in Florida last week for allegedly using data stolen from TJX's system. Investigators claim they managed to buy $1 million in merchandise with gift cards bought using illegally obtained credit card information.
Should you be worried? The company had previously advised customers to especially scrutinize all charges made from May to December 2006.
Chances are if you didn't see anything abnormal then and you haven't seen anything since, you'll be OK.
Still, it's always a good idea to check all your credit and debit card statements closely. All of the big financial giants have a policy ensuring you won't have to pay for anything you didn't buy.
But it's important to spot the problem before it goes on too long.
Because once your number's out, your number could be up. And that's a hassle no one wants to face.
What should you do if you suspect your credit card is lost or stolen? With the technological know how of thieves these days, you don't even have to be careless with your card to wind up in trouble.
Here are some steps to take before and after a "card shark" gets your number.
Keep A Record
Most people put their credit cards in their wallet and forget about them until they need to use them. But you should always keep a record of every number and expiry date on the card, and the phone numbers to call if something happens to one of them, in a safe and secure place. The more info you have handy, the faster you can resolve the problem.
Check Your Statements
It's the first tip-off. Carefully review what's on your next bill. Are there purchases there you didn't make? If you find any that you want to question, immediately phone your bank or credit card supplier. They'll be able to walk you through the rest of the procedure. Many banks also keep a silent record of your spending habits. If they see something that suddenly seems out of place, they may call to ask you about it.
Cancel Everything
Even if it hasn't been used, you should cancel the card and have a new one issued. It may take a few days to get it, but at least you'll know no one else can ring up bogus charges on your account in the meantime.
Let The Right People Know
Users who put regular automatic monthly charges or auto pay features on their card - like cable, hydro, gas, cell phone etc. - will have to call every single one of them separately to tell them the card is no longer any good and supply them with the new number. Some banks will do this for you, others won't. Either way, it may take some time for you to reach every company in question.
Who Pays For Bogus Charges?
Not you. Under policies instituted by the banks and the credit card companies, you're off the hook for anything you didn't actually buy.
Watch Your Credit
Someone using your credit cards for a while undetected can pose a danger to your credit rating, even though you won't be held liable for the charges. If you're unsure, you should check your credit with the two main outlets in Canada that keep track of your financial reputation. They can flag your accounts and help clear your name.
Equifax: 1-800-465-7166
TransUnion: 1-800-663-9980
Who Else Do I Call?
It depends on where you got your card. Here's a partial list of some of the more regular providers. These numbers are available 24 hours a day, seven days a week.
American Express: 1-800-668-2639 or (905) 474-9280 in Toronto or overseas
Bank of Montreal: 1-800-263-2263
Capital One: 1-800-481-3239
CIBC: 1-800-465-4653 in Canada or the U.S. or (514) 861-4653 outside Canada or U.S.
Citibank: 1-800-387-1616
HSBC: 1-866-406-4722
MBNA Canada: 1-800-379-2744
President's Choice Financial: 1-866-246-7262
Royal Bank: 1-800-ROYAL 1-2 (1-800-769-2512) or collect outside North America to (514) 392-9167 (collect)
ScotiaBank: 1-800-4-SCOTIA (1-800-472-6842) or (416) 701-7200 in the Toronto area.
TD-Canada Trust: 1-800-9TD-VISA (1-800-983-8472) or call collect outside of Canada and the U.S. (416) 983-8472
VISA Canada: 1-800-441-6437 or outside Canada or the U.S. call collect to (416) 288-1440.