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and You Thought Losing Your Keys Was Bad....
Thursday, March 29, 2007
Larry Greenemeier over at InformationWeek wrote an interesting column about data theft. You thought losing your keys was bad... well Greenemeier reports that the parent company of TJ Maxx, TJX Co. announced on Wednesday that in its ongoing investigation of a customer data breach by announced in a Securities and Exchange Commission filing that more than 45 million credit and debit card numbers have been stolen from its IT systems. Are you kidding me? 45 million identities? Apparently TJX still has no idea of the extent of the damage caused by the data breach. Well that's comforting. As expected a number of lawsuits have arisen and you can be sure there will be more to come. 45 million identities, I still cannot get past that number. Anyone heard of encryption?

Just how serious is this? Well the report goes on to state:
"The effects of the stolen TJX data, not to mention the underground cyber criminal economy that trades in customer data, are already being felt. TJX, General Dynamics Corp., IBM, and the various law enforcement entities investigating the cyber attack still don't know who took the customer information, but it's clear where some of that information ended up. Data stolen from TJX recently surfaced at Wal-Mart stores in Florida, where it's been used to help thieves steal about $8 million in merchandise from Wal-Mart stores. The thieves used the stolen TJX customer data to create dummy credit cards for purchasing Wal-Mart and Sam's Club gift cards, and then used those to hit stores in 50 of the Florida's 67 counties. "

and you thought losing your keys was bad.

For the full story visit InformationWeek.


posted by Jody @ Thursday, March 29, 2007  
  • At 10:15 PM, Blogger barbarina said…

    This theft hit pretty close to home as I was a victim of this fraud. I rarely use my MasterCard, but had used it at Kelowna's own HomeSense (a division of TJ Maxx). I got a call from my bank early one Saturday morning in January asking me if I had been in Hong Kong and Alabama the day before. Well you and I both know I was safely tapping away in my office the day before! It ended up being quite the pain as my credit card and debit card had to be canceled. I also had to log identify theft warnings with all three of Canada's credit bureau's. Each of these calls must be placed over the phone and then followed up via a fax request accompanied by copies of 2 pieces of picture ID). Kudo's to my bank (Alberta Treasury Branches) for catching it so quickly. Shame on TJ Maxx for simply offering an apology on their website, but nothing more for all of their inconvenienced customers.

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