TJX, which is the parent company of Marshalls, T.J. Maxx, and Home Goods retail stores, is finding itself in even hotter water since the well-documented computer hacking attacks. Not only is the company reporting a loss of $4.5 million as a result of the investigation, changes to their computer security system, and communicating the problems to their customers, they are also finding themselves in more trouble with Visa…
To make matters even worse, some of the stored data dated all the way back to 2003. But luckily for cardholders, TJX was only storing what is referred to as “Track 2″ information from the card transactions. “Track 2″ information includes the expiration date, account number, and card verification information. Illegally obtaining “Track 2″ information can make it easy for thieves to create fake credit cards. Since Track 1 information wasn’t stored, thieves were not capable of stealing the cardholder’s identities as well, which would have made an already bad situation worse.
But, if only TJX has followed Visa’s rules as stipulated … no one, including TJX, would be in the mess they are in right now.
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