Update On TJ Max Security Debacle
Filed Under (Credit Cards Blog) by creditblogger on 08-08-2008
A few days ago we posted a piece of news about a group of hackers who hacked into TJ Maxx’s computers and stole a whole lot of credit card numbers from TJ’s customer credit card database. InternetNews has posted a new piece about the details of this case. As suspected, TJ Maxx customers are not the only ones who will suffer.
Here is what we know today:
- You are never secure enough: you may think your credit card information are secure as you go the extra mile to keep everything organized and secure. You do online banking on a dedicated computer with multipe firewalls and virus protectors, and you don’t store your information on your computers. You make sure your credit cards are always in a safe place and you don’t expose your numbers to strangers. These are all fine practices. But you are never 100% secure. Sometimes things are just out of your hands.
- Stores’ customer databases are not secure enough: hackers have a saying that nothing is unbreakable. That’s certainly true. But retail stores should held responsible for not protecting their customers’ information. Losing your identity is more than just losing your bag. It could mean losing everything you have worked for in life, and it does take a lot of time to get thing back in order. One would think that the information in these databases are encrypted with the best technology that we have but I guess some companies cut corners. The result? Consumers lose.
- Information Management needs overhaul: there is no question there will always be risks when it comes down to customer information stored by retail stores. Btu there needs to be a set of enforcements to make sure retail stores don’t store any unnecessary information. If you store sensitive information, you are going to be responsible for what happens to it. While TJ Max can expect to lose some customers, I think they should be forced to compensate and help the victims get their identity back.
- Having Insurance Policy is the only option: think about it. You get car insurance even when you are a safe driver. Why shouldn’t you get reputation insurance in case something goes wrong. It’s funny how things happen when you least expect them to. Services such as TrustedID or LifeLock will allow you to protect or repair your credit in case your identity is stolen. They are not 100% proof but they are the best options that are out there. Some people drive without an insurance, and you may be fine for years with that approach. But once you are in an accident, you’d wish you had proper insurance.
I would hope that we don’t see these hacking incidents in the future. But unfortunately hackers are now an integral part of this young century. So I rather be safe than sorry when they come knocking.
