TJX counts continued cost of data breach

TJX has set aside $118m for costs associated with 2007 data breach

Just a week after Albert Gonzalez pleaded guilty to what was at the time the biggest ever payment card data hack, retailer TJX has been forced to pay out yet more sums to parties affected by the incident.

The company agreed to pay a $525,000 (£321,000) settlement to several financial institutions, including AmeriFirst Bank, HarborOne Credit Union and Trustco Bank, despite denying any wrongdoing.

TJX said that the money will go some way towards settling the expenses incurred by the banks in "pursuing the putative financial institutions' class action", and will come from the $118m (£72m) the company has already set aside for costs associated with the breach.

More than 45 million credit card details were stolen in the attack, which went on for 18 months. However, it was overtaken in notoriety this year when credit card processing firm Heartland Payment Systems revealed that around 100 million card details may have been compromised.