Saturday, May 14, 2011

Bank Accounts of Shoppers At Michaels Stores Were Looted After Using Their Bank Debit Cards

Thieves Swipe Debit Card Data
The Wall Street Journal
By Ann Zimmerman and Miguel Bustillo
Friday, May 13, 2011
Brandi Ramundo of West Chicago, Ill., rushed out to a Michaels arts-and-crafts store April 16 to cobble together corsages for her seven-year-old twins, who were going to a father-daughter dance. "It turned out cute," Ms. Ramundo says of the fake-flower crafts project. "But it wound up costing me 1,400 bucks."

Ms. Ramundo is one of an unknown number of shoppers at Michaels stores in 20 states whose bank accounts were looted after they had used their bank debit cards at the retailer. Thieves tampered with the retailer's debit-card processing equipment at about 80 stores from Massachusetts to Washington, according to the chain's corporate parent, Michaels Stores Inc.