TJX offers $40 million for data breach

By Justin Mann on December 3, 2007, 1:01 PM
Early this year, we all heard about the fallout from the TJX scandal in which 45 million credit card numbers were stolen in a huge data theft. Later, we learned that yes indeed the data was being used, or at least attempting to be used, by criminals for profit.

Now, TJX is starting to reap what they sowed. They have agreed to pay up to $40.9 million to various Visa card issuers that might have been affected, such as banks that give the cards out to their customers. The offer only stays open for a few weeks, and is endorsed by Visa. There is no specific mention about what sort of loss any bank is facing, or what sort of loss individual users face. However, it is a prime and perfect example of exactly what data theft can lead to. Whereas most users are more concerned about their home PCs becoming compromised, the greater risk here is obviously large corporations getting data stolen from them.

No matter whom you give your information too, there is always the risk of compromise somewhere along the chain. Businesses should be just as concerned as any home user with regards to letting personal data slip through the cracks.




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