The Cost Of A Breach, Heartland Style: At Least $129 Million; Might Be $229 Million
Evan Schuman comments:
In its latest financial report, Heartland Payment Systems reported that it dropped $129 million on data breach costs last year (an incident that briefly placed Heartland on Visa’s Bad Breach Boy list). The company added that it still has a reserve of $100 million for additional expenses.
As a processor, Heartland’s pain is certainly much more severe than what would be inflicted on a retailer involved in a similarly large breach. But $229 million is starting to look like real money.
Read more on StorefrontBacktalk.