Bree Fowler of Associated Press reports:
Target has reached a deal to pay up to $67 million to settle Visa claims related to a massive 2013 data breach that resulted in the theft of millions of debit and credit card numbers.
Both Target Corp. and Visa Inc. confirmed the agreement Tuesday, but wouldn’t put a dollar amount on the deal. A person familiar with the situation said the agreement is worth up to about $67 million in pre-tax payments to Visa and the financial institutions that issued the potentially affected cards.
Read more on Pioneer Press.
No matter the outcome of cost, it is chump change when it comes to the business. The people who’s PII was stolen is a higher priority…..
58 cents a record? really? This is the reason they fly by the set of their pants until they are a large entity. Then the bottom line cost to them is minute, while the customers have to deal with the real fallout.
http://www.csoonline.com/article/2932324/data-breach/breach-costs-chump-change-to-bottom-lines-of-big-players.html