Wave Systems Corp. (fka WAVXQ)

[Chowder]

OT - TJX data theft fallout...especially like the part where TJX is being sued by everyone and his brother.


http://www.networkworld.com/community/?q=node/16134

TJX data theft spawns million-dollar crime spree
Submitted by Paul McNamara on Tue, 06/12/2007 - 10:03am.

The enormity of the damage caused by that infamous data breach at TJX continues to come into focus through company disclosures and stories such as this one in USA Today that traces credit card numbers swiped from TJX to a million-dollar crime spree in Florida.

The crooks used their fraudulent credit cards to buy hundreds of $400 gift cards at Wal-Mart stores and then used those cards to purchase goods. The details are staggering and, worse yet, experts contend they are an indication that the scheme may have been or could be easily targeted at other retailers.

From the USA Today story:

But this was no ordinary scam. It was part of a sophisticated operation that started with the theft of credit card data on 45.7 million customers of TJX - parent company (TJX) of retailers T.J. Maxx and Marshalls. Investigators believe it is the boldest tangible evidence of criminals cashing in on hacked data from TJX - the nation's largest reported computer data breach, which TJX disclosed in January.

TJX has already acknowledged that Wal-Mart may not be the only chain seeing this type of scam.

"We believe many retail establishments could have been similarly victimized," TJX Vice Chairman Donald Campbell said in a May 4 letter to The Wall Street Journal.

This story isn't going away any time soon. In addition to the type of public-relations hit that no company wants to face, TJX is being sued by everyone and his brother.

And, of course, what happened to TJX - what TJX allowed to happen - is a nightmare scenario for any network security executive.