We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
78,650 News Articles

Global Payments: data breach cost a whopping $84.4 million

Global Payments, which back in the spring reported a data breach in which information associated with an estimated 1.4 million payment cards was stolen, has revealed that expenses associated with investigations, fines and remediation has hit $84.4 million.

The Atlanta-based payments-processing firm acknowledged that number as part of its fiscal report for 2012 revenues, which totaled about $2.2 billion, up 18% from $1.82 billion in 2011.

SLIDESHOW: Quirkiest scenes from Black Hat 2012 security conference

BLACK HAT PANEL: Which do you trust less with your data, the U.S. government or Google?

In describing the completion of our data intrusion investigation, the company stated it had a pre-tax charge of $84.4 million, noting this includes an estimate of charges from the card brands and investigation and remediation expenses. A qualified security assessor is conducting the independent review required to return the company to the lists of PCI-compliant service providers.

Ellen Messmer is senior editor at Network World, an IDG publication and website, where she covers news and technology trends related to information security. Twitter: MessmerE. E-mail: emessmer@nww.com.

Read more about wide area network in Network World's Wide Area Network section.


IDG UK Sites

Nokia replaces budget Lumia 520 with 530: Release date, price and specs

IDG UK Sites

Q3 2014 financial results: Apple announces record June quarter, 35.2m iPhones sold, $37.4b revenue

IDG UK Sites

Welcome to the upgrade cycle - you'll never leave

IDG UK Sites

How to make an 'Apple iWatch' using an iPod nano and a 3D printer