Tuesday, January 22, 2008

TJX Lessons

Very enlightening read on TJX lessons one year later. Highlights:

"Breach disclosures don't always affect revenue or stock prices ... Despite being the biggest, costliest and perhaps most written-about breach ever, customer and investor confidence in TJX has remained largely unshaken."

"TJX has said that in the 12 months since the breach was disclosed, it has spent or set aside about $250 million in breach-related costs."

"... many retailers, including top-tier ones like TJX, had not yet fully implemented the set of security controls mandated by the major credit card companies under the Payment Card Industry Data Security Standard, or PCI."

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Dr Anton Chuvakin