TJX breach has lingering consequences

TJX breach has lingering consequences
Tags: Bank / Credit Union, Debit / Credit, North America, Other, Security, Trends / Statistics
June 17, 2007

Digital Transactions: The TJX Cos. breach that compromised at least 45.7 million credit and debit cards continues to have an impact. The Framingham, Mass.-based operator of T.J. Maxx and Marshalls took a pre-tax charge during the first quarter of fiscal year 2007-08 of $20 million to cover investigative, technology and legal costs associated with the card compromise. That $20 million comes in addition to the $5 million pre-tax charge the company took in fiscal 2006-07's fourth quarter. Meanwhile, the culprits responsible for the hack are still at large.