When a data breach took place at Target, some 40 million credit and debit cards were compromised. The company may be paying as much as $67 million in a settlement with Visa, according to a Wall Street Journal report, as the company also works out a settlement with MasterCard. Earlier, Target agreed to pay $10 million to settle a class-action from consumers impacted by the 2013 massive breach.
The lessons from the breach are far-reaching and deal with such fields as IT, legal departments, boards and overall company reputation. Teri Radichel, who authored a study on the Target breach for the SANS Institute, points out that a breach is a reminder that companies should be protecting their critical assets.
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