In January 2007, TJX disclosed that hackers had breached its credit card systems. The company reported that the attackers might have accessed credit card data going back to 2002. It reported that 45.7 million credit and debit card numbers might have been disclosed. At the time, the breach was believed to be the largest ever. Banks and customers sued TJX in connection with the breach. State governments also sued the company for failing to protect the credit card information of state residents. Given the nature of this breach, which federal agency opened an investigation? a. the Federal Trade Commission

b. the Federal Reserve System

c. the Federal Deposit Insurance Corporation

d. the Consumer Financial Protection Bureau

Question

Social Studies

Peyton Proctor

30 December, 00:31

In January 2007, TJX disclosed that hackers had breached its credit card systems. The company reported that the attackers might have accessed credit card data going back to 2002. It reported that 45.7 million credit and debit card numbers might have been disclosed. At the time, the breach was believed to be the largest ever. Banks and customers sued TJX in connection with the breach. State governments also sued the company for failing to protect the credit card information of state residents. Given the nature of this breach, which federal agency opened an investigation? a. the Federal Trade Commission

b. the Federal Reserve System

c. the Federal Deposit Insurance Corporation

d. the Consumer Financial Protection Bureau

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Answers (1)

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Kiki · Answer 1

Given the nature of the breach, the Federal Trade Commission should have opened an investigation.

Explanation:

The nature of the breach mentioned in the case is utterly financial. Though it is a clear civil offense that could be dealt with by any general investigation agency functioning in the United States, the degree of the forgery involved was of greatest concern which required a special investigation agency to delve down into the probe. Hence, the Federal Trade Commission, by law, opened the investigation in the case.