TJX Fraud Case

TJX Companies, Inc. (TJX) is the leading off-price retailer of apparel and home fashion in the United States and worldwide (TJX, 2017). Additionally, TJX is the parent company to the U.S.’s TJ Maxx, Home Goods, Marshalls and Sierra Trading Post. The mission of TJX is to deliver great value to its customers through the combination of brand, fashion, price and quality (TJX, 2017). TJX uses low pricing and popular brands to attract customers to purchase goods. Overall, there are over 3800 stores across nine countries and three continents generating $33 billion in revenue. TJX is the epitome of global retail success. In 2015 TJX generated $1 billion more than its nearest competitor in Macy’s (Loeb, 2015).

Data Breach Details

Cyber-crime can strike

All the individuals convicted were not American, but from all over the world. The mastermind, Albert Gonzalez, plead guilty to wire fraud, computer fraud, access device fraud, aggravated identity theft and conspiracy in a Justice department release (Department of Justice, 2008). At one point, Gonzalez worked as an informant for the government. Gonzalez assumed he still worked as an informant for the U.S. Secret Service while committing crimes. Gonzalez’s assumptions were

After the cyber-attack, law enforcement received reports on stolen credit card information being used that originated from the hack. However, the fact remains, no one wants to spend money on protecting network and computer resources. Because of the lack of security practices prior to the attack, attorneys general across the United States sued TJX. In a settlement involving 41 attorneys general, TJX agreed to pay $9.75 million due to its lack of security (Ferguson, 2009). TJX suffered some consequences aside from paying court settlements. For example, TJX had to endure fines from Visa and MasterCard for not keeping credit cards safe (McLaughlin,