In what's becoming a growing trend as of late, arts and crafts retailer Michaels is investigating a possible data breach that may have put customers' credit card data at risk. The news first surfaced via Krebs on Security but has since been confirmed by the US Secret Service and a statement from Michaels.

Krebs noted that multiple sources in the banking industry were tracking a pattern of credit card fraud that was traced back to recent usage at Michaels Stores Inc., the arts and crafts specialty store with more than 1,250 locations nationwide.

The retail chain later said they recently learned of possible fraudulent activity on some US payment cards used at their store which suggests they may have been the victim of a data security attack. Michaels noted they are working closely with federal law enforcement and will continue the investigation with the help of third-party data security experts to get everything sorted out.

In the interim, Michaels recommends that customers remain vigilant by reviewing their account statements for unauthorized charges. In the event of suspicious activity, customers are encouraged to contact their bank or card issuer immediately. What's more, if the investigation finds they are at fault, Michaels will offer identity protection and credit monitoring services to affected customers at no cost.

This isn't the first time that Michaels has experienced a security breach. Back in May of 2011, thieves managed to physically alter some point-of-sale devices at retail locations to launch an attack.

It remains to be seen if the Michaels breach is related to similar attacks on Target and Neiman Marcus.