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Thursday, September 3, 2009

TJX settles identity theft suit but NOT with victims of identity theft!

TJX agreed to pay $525,000 to settle an identity theft suit filed against it.  The payment goes NOT to the consumers who eventually became identity theft victims due to TJX's negligence.  Instead, TJX is paying off several banks, primarily for reimbursement of their legal expenses.

The data breach at issue involved at least 45 million card numbers of customers at TJX’s stores, one of the largest breaches on record.  TJX denies liability for the data breach

Albert Gonzalez, the computer hacker accused of masterminding the identity theft ring that hit TJX and other retailers, agreed to plead guilty just this past week.

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