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Breach Has Cost Processor $85 Million Thus Far

DATA LOSS—U.S.

July 27, 2012

The Atlanta Journal-Constitution reports on the costs a payments processor has incurred since its data breach earlier this year, so far totaling nearly $85 million. Global Payments has completed its investigation into the breach, and its CEO says the company is working to once again become compliant with payment card industry standards. The company was dropped from Visa and MasterCard’s compliance list after a March breach affecting 1.5 million account numbers. An identity theft expert said the breach should serve as a wake-up call that more should be done to protect customer data. “Companies have got to be more proactive,” he said.
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