TJX stumps up $40.9 million for card fiasco

Almost a year down the pipe, the TJX Group has stumped up $40.9 million to reimburse a number of banks for the largest largest data breach in history, which compromised as many as 100 million credit and debit card accounts before it was discovered at the end of last year.

TJX, the parent of discount chains including TJ Maxx and Marshalls, has announced a deal with Visa to cover the costs of re-issuing their members cards and the estimated cost of the resulting fraud.

In return, the banks have agreed not to sue TJX or its partners, and Visa is suspending some fines it levied after the breach.

What a nice cosy deal. Pity about the people whose card accounts were scr*wed as a result of the TJX fiasco of Sudanese proportions...