TJX corporation is being sued by nearly 300 banks because it failed to secure their data correctly over the past 18 months. An unknown amount of people hacked into their system and exposed over 45.7 million credit and debit card holders. This is a serious identity fraud problem that could be well avoided if the company was more secure with their data. The banks have suffered tremendously from this incident and are demanded to be compensated. The suit is not only that the company wasn't secure enough but also that it lied on how it was handling the data. The PCI Data Security Standard (PCI DSS) even stated the other companies should study the security breach of TJX just to learn what not to do with customer data. More Information about the lawsuit can be found here.
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