TJX reports a loss due to cardholder data breach
August 17th, 2007 by admin Posted in Credit Card Fraud, Merchant
TJX is back in the news and reporting over a hundred million dollar loss due to the massive cardholder data breach.
People continually ask why they got off so easy, but as the losses continue to pile up I’m sure the CEO is asking, “why weren’t we compliant?”
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5 Responses to “TJX reports a loss due to cardholder data breach”
By Alex on Aug 17, 2007
I thought that technically they were compliant - they had been “grandfathered” in. Is this not correct?
By Michael Dahn on Aug 17, 2007
I do not believe anyone can be “grandfathered” into PCI DSS compliance. Regardless of compliance or non-compliance they are still experiencing losses long after the event itslf.
By Jestep on Aug 18, 2007
I think it would be safe to assume that if the CEO makes it through this, that some of his staff wont.
By Alex on Aug 18, 2007
That’s kind of my point. The CEO may have been told that they were compliant because TJX had been grandfathered in by PCI.
FYI: TJX’s CEO is a she. She’ll make it through this, but some of *her* staff won’t.