Friday, January 26, 2007

Bankers Detect Fraud from TJX Hack

Via -

Customer data stolen by computer hackers from TJX Cos. has been used to make fraudulent debit card and credit card purchases in the United States and overseas, the Massachusetts Bankers Association said Wednesday.

The fraudulent purchases have been made in Florida, Georgia, and Louisiana, and overseas in Hong Kong and Sweden, the association said.

Nearly 60 banks have reported they've been contacted by credit and debit card companies about compromised cards, the association said. The number is likely to grow because less than half of the association's 205 banks have reported to it on the issue.

The association said banks are notifying customers about fraudulent purchases, and reissuing cards, in some cases.

TJX, operator of T.J. Maxx and Marshalls discount stores, did not immediately respond to a request for comment.

Last week, TJX said hackers had broken into a system that handles credit and debit card transactions, as well as checks and merchandise returns for customers in the U.S. and Puerto Rico and may involve customer accounts from the U.K. and Ireland.

The company has refused to say how many customers had their data stolen or accessed by a computer hacker.

Credit card companies have noted that consumers are not responsible for fraudulent purchases.


Sounds like the bad guys know that the information they have it only valid for a limited they are using it before they lose it.

Now the banks that were affected really should step up and reissue new cards...even if illegal activity hasn't been detected on those accounts yet.

Because sooner or will be.

Right after the CardSystem hack, my little small town bank didn't reissue cards right after the hacke. They wouldn't even tell me if my number with on a list of exposed accounts, which I know they had.

But a year later, they started to detect fraud on several of the cards and ended up sending me a new card anyways....

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