The recent data breach at Home Depot cost Alabama credit unions nearly $1 million.
According to a new survey by the Credit Union National Association (CUNA), more than 120,000 credit and debit cards were affected by the high-profile hack. CUNA said the cost of the violation per card issued was $8.02, which includes the amount required for new cards, fraud, additional staffing, member notification, account monitoring and more.
A CUNA survey in January showed the massive Target breach late last year resulted in a total loss of $407,389 at eight credit unions in Alabama. Together, the Home Depot and Target incidents cost in-state credit unions more than $1.3 million in the past 12 months. Nationally, the Home Depot breach ignited a loss of more than $57 million and affected 7.2 million debit and credit cards.
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