Security Breach at Tjx

In: Computers and Technology

Submitted By vicwong92
Words 1948
Pages 8
This case analysis report is about the IT security problems that Owen Richel, the Chief Security Officer of TJX should consider to improve by analyzing some security issues that TJX had faced during the 2005-2007 database intrusion. As technology advances, companies are facing some challenges regarding information privacy. “Information privacy concerns the legal right or general expectation of individuals, groups, or institutions to determine for themselves when, and to what extent, information about them is communicated to others.” (Lecture notes) One of the privacy problems includes unauthorized access, which violates the laws and company’s policies, can limit a person to access to his/her personal information, and threaten the company’s legitimacy in its interactions with its stakeholders. In this case, TJX experienced an information security breach, caused over 94 million of payment cards at risk, and paid $158 million for damages and losses. This serious problem was recognized by Owen and thus case discussion is carried out as follows.
Stakeholders & Preferences
Some of the important stakeholders are customers, financial institutions, vendors and distributors, shareholders, and the management and employees.
The most important stakeholder is the customers that TJX has been long serving with because they are the very first group of people who were affected by the intrusion. It was the customers’ debit and credit cards information that were stolen which led to serious consequences such as, money being stolen from bank accounts, and credit cards being abused. Majority of the customers would rely on the companies and trusting them with their personal information. They think that it is the company’s responsibility to secure and protect their information within the company’s systems.
Another important stakeholder is the financial institutions…...

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