Financial Data Stolen From TJX Now Being Used

Consumer Help Web shared information with readers about a massive data theft earlier this year. The company’s president, Joan Bounacos, was quick to point out that this incident, involving TJX, the owners of Marshall’s and TJ Maxx stores was different because it was a clear theft, not a “data breach”.

“You could simply tell right away that this wasn’t a case of a missing laptop, but a sophisticated criminal enterprise,” the consumer advocate said in a statement. “There was too much data, over too long a period of time for consumers to be cavalier about this incident.”

In a filing with the United States Securities and Exchange Commission yesterday, TJX admitted that the data breach had gone on longer than previously reported and that the company itself took longer to report the incident to the public. Citing multiple thefts going back years, the company spent pages of its filing to provide its version of details related to the theft, calling it a “computer intrusion”.

“The most disappointing information in the filing is the attitude the company seems to have,” Bounacos said. “While admitting that some evidence exists the data is now being used to steal identifies, the company says it will vigorously defend litigation and claims against it. That might be good for stockholders, but not for the tens of millions of people now at risk.”

In February, Consumer Help Web called for TJX, which posted net income last year of more than $700 million, to work with consumers to provide free credit monitoring services after the records were stolen. “A company with $17 billion in revenue is forcing consumers to pay for credit monitoring fees,” Bounacos said. “They seem to display an unusually cavalier attitude rather than accepting responsibility for a multi-year, multiple event theft from their company. Consumers shouldn’t have to pay for the company’s lack of proper technology security.”

Posted under Finance, Privacy

This post was written by George Bounacos on March 30, 2007

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SPECIAL ALERT TO ALL VETERANS - Millions of data records compromised

On the heels of a government program designed to educate and protect consumers against identity theft, the Department of Veterans Affairs (VA) announced today that a data analyst took home a disc with personally identifying information for 26.5 million veterans and some spouses. While the disc was at the employee’s home, the house was allegedly burgarlarized and the information was taken. The VA claims that the data includes names, Social Security numbers and dates of birth in addition to “some disability ratings”.

“It is incomprehensible that any one single employee could remove the entire roster of veteran’s information without more elaborate protection,” said Consumer Help Web President Joan Bounacos. “How a government employee, no matter how high ranking, can be permitted to hold this information in a transportable medium is something that the government must review. This represents critical data for nearly 1 out of every 10 Americans,” she added.

The VA has set up a manned call center that veterans may call to get information about this situation and learn more about consumer identity protections. That toll-free number is 1-800-FED INFO (333-4636). The call center will be open beginning today, and will operate from 8 am to 9 pm (EDT), Monday-Saturday as long as it is needed. The call center will be able to handle up to 20,000 calls per hour (260,000 calls per day).

The Secretary of Veterans Affairs R. James Nicholson has briefed the Attorney General and the Chairman of the Federal Trade Commission, co-chairs of the President’s Identity Theft Task Force. Task Force members have already taken actions to protect the affected veterans, including working with the credit bureaus to help ensure that veterans receive the free credit report they are entitled to under the law. Additionally, the Task Force will meet today to coordinate the comprehensive Federal response, recommend further ways to protect affected veterans, and increase safeguards to prevent the reoccurrence of such incidents.

Posted under Privacy

This post was written by George Bounacos on May 22, 2006

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