Tuesday, August 14, 2007

TJX to take $118 million charge for data breach

Personally, I think they're getting off easy. These folks lost 45.6 million credit and debit card accounts from their customers, so that works out to about $2.59 per lost account. That won't even cover a late charge for each person affected.

While strictly speaking this isn't spyware-related news, from time to time I'll be posting security related items that I think are significant. TJX is based here in Framingham, and is responsible for employing a whole lot of people.

What I kind of find unbelieveable is the fact that TJX's profits were actually UP 31% over the same quarter last year. You would think people would want to avoid doing business with a company that doesn't look out for its customers' personal information. Looks like we've all got a lot of work to do educating people.

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