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Monday, February 12, 2007

Behind the Scenes at TJ Maxx

Remember CardSystems, the Tucson, AZ credit card processing company that exposed 40 million debit and credit card accounts through a cyber breach? They failed to secure their network, and lost the Visa and American Express accounts as a result. Lurking in TJX’s (TJ Maxx’s parent) data background is Fifth Third Bank—fourth largest credit-card processor in the country—in what has been called possibly the largest breach of security in sensitive data. What is most alarming is the fact that neither TJ Maxx nor Fifth Third has been able to determine the extent of the breach; it happened in Dec. 2006. Until this happens, whatever sensitive data is out there is in limbo, ripe for the new ID thief that carefully plans his strategy. Fifth Third handles over 17 billion transactions a year, with Kroger, Nordstrom and Abercrombie & Fitch as clients in addition to TJ Maxx. The lawsuits are already piling up, and the Massachusetts Attorney General is leading a civil investigation into the matter. For some reason, they aren’t letting this one go.

1 comment:

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