11 charged in TJX, BJ's Wholesale Club breaches

Eleven people have been charged with stealing more than 40 million credit and debit card numbers obtained from TJX Cos., BJ's Wholesale Club Inc., and seven other retailers.

They were indicted Tuesday, in what the Justice Department calls the largest, most complex identity-theft case ever prosecuted (ComputerWorld.com, CNNMoney.com and Bloomberg.com Aug. 5).

Thousands of credit unions and their members were among those impacted in the thefts. Credit unions and other financial institutions were forced to reissue compromised cards and endure costs related to fraud. Some of the breaches sparked lawsuits by credit unions and by their insurance companies.

The identity theft ring targeted nine U.S. retailers, including TJX, BJ's, DSW Shoe Warehouse, Office Max Inc., Boston Market, Barnes & Noble Inc., Sports Authority, Forever 21, and Dave & Buster's restaurants.

More information at: http://www.cuna.org/newsnow/08/system080508-9.html?ref=hed