The washington post says that TJX could be fined up to 24 million by mastercard which would take the grand total to 49 million when you include the visa fine. Hopefully they will be more careful about security in the future.
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Ian: The FTC treated TJX unfairly. The FTC should rethink the law of credit card security, and stop treating merchant victims of organized crime as culprits. –Ben
I am not up on what the FTC’s involvement is or isn’t in this case. However when I hear that credit cards were pulled off an insecure wireless network you have to wonder who was in charge of securing the data. America has a very lack view on protecting personally identifiable information compared to other countries. Having large dollar amount associated with failures will focus the industry to improve. In countries when the retailers foot the bill for fraud the security of credit cards have improved. When was the last time someone checked your signature on a purchase in a US Store.