Global Payments: Data breach cost a whopping $84.4 million

Costs stemming from the theft of an estimated 1.4 million payment cards include investigation, remediation, and card-brand fines

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 percent from $1.82 billion in 2011.

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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.

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This story, "Global Payments: Data breach cost a whopping $84.4 million" was originally published by NetworkWorld .

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