Global Payments Breach Tab: $94 Million

[security curmudgeon <jericho () attrition org>]

---------- Forwarded message ----------
From: InfoSec News <alerts () infosecnews org>

http://www.bankinfosecurity.com/global-payments-breach-tab-94-million-a-5415

By Information Security Media Group
January 10, 2013

Global Payments Inc. says the data breach it revealed in April 2012 has 
cost the company $93.9 million.

In a Jan. 8 quarterly report, the Atlanta-based payments processor says 
expenses associated with the breach, estimated by Global to have affected 
1.5 million payment cards in North America, related mainly to investments 
the company has made to enhance security and ensure compliance with the 
Payment Card Industry Data Security Standard (see Global Payments: Breach 
Exam Complete).

"We hired a qualified security assessor, or QSA, to conduct an independent 
review of the PCI-DSS compliance of our systems," Global states in its 
filing. The processor goes on to say that its effort to remediate its 
systems and processes is "substantially complete," and it hopes to be 
returned soon to the payment card network list of PCI-DSS compliant 
service providers. "Our failure or a delay in returning to the list could 
have a material adverse effect on our business, financial condition, 
results of operations and cash flows," Global states.

Global says it has now paid all fines related to non-compliance and has 
reached resolution with certain card networks, although it did not specify 
which ones. The processor also says its business has not suffered as a 
result of the breach.

[...]
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