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TJX: Breach cost company $17 million to date
Robert Lemos, 2007-05-21
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TJX: Breach cost company $17 million to date 2007-05-21
R. Kerns (1 replies)
To be honest it is in my opinion that $17 million is relatively low for a breach of this magnitude. When its all said and done (legal fees, lawsuits, regulatory fines, loss of customer business, credit card monitoring payments, investigation, IT security costs, etc...) I would venture to say that total costs will be well over the $50 million mark. This is an unfortunate event that I hope sparks other companies to do a better job at pro-actively protecting customer's personal information. ID theft is something I would never want to go through, but fully expect to deal with at some point because of incidents such as this.

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