Tuesday, November 13, 2007

TJX's Projected Breach Costs Increase To $216 Million

Evan Schuman writes on StorefrontBacktalk:

In a footnote in its Tuesday earnings announcement, TJX increased its estimate of pre-tax charges for the world's worst credit card data breach to $216 million. Back in August, it had projected only a $168 million pre-tax hit.

The data breach consisting of extensive cyber thief activity within TJX's network from 2003 through June 2004 and then again from mid-May 2006 through mid-December 2006, TJX said. Court filings have estimated that the data from some 96 million credit cards was accessed during the incidents.

More here.


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