It's happened again. Home Depot (HD) has confirmed a massive breach of credit card data, possibly the biggest ever. Last night the company confirmed that hackers may have been stealing customer data since last April. People close to the situation say as many as 60 million credit card numbers may have been stolen. That would make this the biggest attack of its kind in history.

This comes less than a year after 40 million card holders at Target (TGT) were hit by similar attacks. While Home Depot has apologized for the "frustration and inconvenience" this is causing customers, no one seems to be in a forgiving mood. Home Depot's stock is getting hit and analysts are frankly stunned at how nearly 2,000 stores in the US could process 750 million transactions without noticing the presence of hackers.

In the company's defense it's not easy to lock down security with this country's antiquated card reader systems. We're one of the few industrialized nations still using magnetic strips on the back of our cards. Experts say these hacks exploited the same systemic weaknesses found at Target to execute the Home Depot theft. In Canada, which like most of Europe uses a chip and PIN technology, customers face lower risk. Note use of the word "lower." The truth is no payment system is un-hackable. The US is set to switch over to updated card systems by October of next year and retailers are going to do what they can to secure their systems, if only out of self preservation, but even after the switch your data will be at risk.

Here's what you can do: Always check your account statements. Don't wait for monthly statements. Go online and look for suspicious payments at least once a week. Home Depot says you won't be liable for unauthorized charges. Next, talk to your credit card company and see if they offer the new chip-based cards. If possible you should upgrade your card-- but it's still up to you to find merchants who will accept the new cards. It depends on the retailer and their point of sale systems.

Mostly consumers have to accept that these thefts are a price we pay for being part of the modern economy. That doesn't exonerate Home Depot, Target or the hand full of other merchants who have been hit. It just means shoppers need to follow the first ancient rule of retail: Caveat emptor or buyer beware.

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