Database breach cost = $118 million

Well the folks at TJX who had their database breached have come up with a figure of $118,000,000 USD. That is the cost of the breach itself, and that includes the costs of liability and credits/debits which arose as a result of the lapse in security. In retrospect it would seem a bargain to have a well trained security staff in place, plus having outsourced third party audits of their network. Well hopefully TJX now realizes that network security is no longer an option, or a drain on resources, but rather a business enabler. I won’t my breath on getting a call from them though -P

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