Inadequate Security Safeguards Led to TJX Breach

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<p><strong>London &mdash; Sept. 27</strong><br />Geoff Sweeney, Tier-3 CTO, said the TJX group of companies, which includes TJ Maxx, has got off lightly so far when settling various American class-action lawsuits regarding its widely publicized customer card database hack.<br /><br />The risk of a breach of sensitive personal information held by TJX Companies Inc., the U.S. parent company of Winners and HomeSense stores in Canada, was foreseeable, but the company failed to put in place adequate security safeguards, according to an investigation by the Privacy Commissioners of Canada and Alberta.<br /><br />”The company collected too much personal information, kept it too long and relied on weak encryption technology to protect it &mdash; putting the privacy of millions of its customers at risk,” said Jennifer Stoddart, privacy commissioner of Canada.<br /><br />Sweeney said the TJX systems hack could easily have been prevented if the company had adequately protected its customer card database, as is the norm in most firms.<br /><br />”Even though TJX got off relatively lightly so far, the fact that the legal settlement is already into nine figures should serve as a clear warning to other companies,” he said. “Protect your customer database and other private information or face the consequences. <br /><br />”Newswire reports suggest that TJX has settled its class-action lawsuits in the U.S., Canada and Puerto Rico in connection with the security breach that affected at least 45 million credit and debit cards. Although no precise amounts have been specified, TJX has said its estimated costs were included in a $107 million reserve detailed in its second-quarter financial report and its estimate of $21 million in future costs.”</p>

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