On January 17, 2007, an individual hacked into the computer systems of TJX Companies (parent company of T.

J. Maxx and Marshalls) and stole credit card information on at least 94,000,000 individuals. It ranks as the largest security breach ever recorded, according to DataLossDB.org.

And as reported today, the company has agreed to pay $9.75 million to 41 states as part of its settlement.

Framingham, Mass.-based TJX Cos. said Tuesday it will pay $2.5 million to create a data security fund for states as well as a settlement amount of $5.5 million and $1.75 million to cover expenses related to the states’ investigations.

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But TJX stressed that it “firmly believes” that it did not violate any consumer protection or data security laws.

Under the settlement, TJX must also prove that its computer systems meets stringent data security requirements.

Eleven people were charged with hacking into the systems of TJX and other retailers to steal credit card information. The legal proceedings for those individuals are still under way.

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