Global Payments Puts Price Tag On Security Breach: $84M
Global Payments Inc. says the security breach it suffered earlier this year cost the company $84.4 million. Costs associated with that breach cut quarterly profits by 90 percent over the year, from 72 cents a share to six cents, its latest earnings statement shows.
The company may also take additional charges in 2013, perhaps as large as $35 million, according to Reuters.
Earlier this year, Global Payments acknowledged that its card data was accessed illegally by fraudsters. Visa responded to the breach by removing the company from its list of approved service providers.
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