My apologies to readers of my newsletter, The Practical Security News (click HERE to subscribe). In the inaugural issue, I made mention of the disclosure laws that are growing in popularity (though still not apparently imminent in Canada). Based on what I could interpret from TJX’s financial statements on their Web site (HERE), I conservatively estimated a $4 Million loss they had taken to date (as a result of their information system breach affecting Winners and TJ Maxx retail customers). I was wrong.

The Wall Street Journal is reporting HERE, and I just confirmed at the site I linked to above, that they announced (on August 14) a charge of $118 Million for “estimated potential liability” from the breach. (No, that’s not a big purchase of red ties on credit by Donald Trump, it’s a write-off on their financial statements, which directly affects share price.)