BOSTON – Arts and crafts retailer Michaels Companies Inc. said that it is investigating a possible security breach on its payment card network and advised customers to review their bank statements for unauthorized activity, Reuters reports. If confirmed, it would mark the second known data breach since 2011 at Michaels.

"We are concerned there may have been a data security attack on Michaels that may have affected our customers' payment card information," said Michaels Chief Executive Chuck Rubin said on Saturday. "We are taking aggressive action to determine the nature and scope of the issue.”

The warning comes on the heels of large data breaches at Target and Neiman Marcus that together compromised millions of payment cards.

Last week, the FBI warned retailers to expect more attacks, and the agency said it has reviewed 20 incidents over the past year that bear similarities to the Target and Neiman Marcus breaches.

An outside forensics firm and federal investigators are still trying to determine whether Michaels suffered a breach. However, the company said it decided to warn the public and launch an investigation after learning of an increase in fraud involving the cards of customers who had shopped at its stores.

In 2011, hackers replaced 84 PIN pads on payment-card terminals at several Michaels stores, stealing roughly 94,000 payment card numbers. Last year, the retailer settled a class-action lawsuit related to the theft.

"This is devastating for them because this is the second time in a row," said Gartner security analyst Avivah Litan. "The public and the credit card companies are going to slap their wrist twice as hard because they'll say they haven't learned their lesson and that they can't be trusted."