Target Says Credit Card Data Breach Cost It $162M In 2013-14

Or approximately as much as their failure in Canada.

Note that this number, while impressive, does not include the upcoming lawsuits from people whose data was irresponsibly risked. The hack exposed the fact that Target was both collecting and storing types of data it was legally required NOT to collect or store. UPDATE: actually they were required to have a type of security which they did not have. It wouldn’t have prevented the hackers from getting the material, but the material would have been encrypted. This is going to get ugly, and it’s going to get very, very expensive. The class action suits have already started forming.

And according to Brian Krebs, who knows such things, they only have about $100 million in cyber security insurance.

Advertisements


Categories: Hackers

Well, tell us what you think!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: