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Security Breach at TJX

Business Ethics

jenna ferrier

on 21 April 2013

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Transcript of Security Breach at TJX

Dec 18. 2006 TJX Notices Indicators of Hacking "suspicious software" "altered computer files" "mixed-up data" Affecting all 8 Businesses United States Puerto Rico Canada United Kingdom HomeGoods TJ Maxx Marshalls A.J. Wright Three Main Hurdles 1. before it had discovered the intrusion it had deleted the contents of many files that had been stolen 2. the technology used by the intruder had made it impossible for TJX to determine the contents of most of the files stolen. 3. TJX believed some data was stolen during the payment card approval process, not able identify the nature of all the data According to Lisker, the vendor, now called Trustwave, found TJX had met just three of 12 requirements that credit card companies impose on merchants to protect consumer data The case describes the intruders to have “the decryption key for the encryption software" 65 million Visa account numbers and about
29 million MasterCard number $68 million and $83 million on
Visa accounts alone (Fraud Losses) total costs to TJX could ultimately run as high as $1 billion Cost of the Breach Possibilities in Other Industries credit card skimming Pay at the table devices "in the case of TJX, [she] suspects it was a case where attackers gained access through a wireless regional hub for the company's store controllers that handle the point-of-sale system. From there, the attackers may have been able to work their way into TJX's central system" Customers were offered three years of credit monitoring Along with identity theft insurance coverage paid for by TJX reimbursed documented driver’s license replacements and a one-time, three-day customer appreciation special event where customers received 15% off Short-term vs. long-term
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