AOH :: IS2086.HTM

Security breach cost Heartland $12.6 million so far

Security breach cost Heartland $12.6 million so far
Security breach cost Heartland $12.6 million so far

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By Ellen Messmer 
Network World 

Heartland Payment Systems today reported that the security breach it 
disclosed earlier this year has cost the company about $12.6 million so 
far, including legal costs and fines from MasterCard and Visa, which 
directly contributed to a $2.5 million loss for the quarter.

Heartland also detailed plans to protect its credit- and debit-card 
processing network with an end-to-end encryption system that it will 
begin rolling out with its merchants in the third quarter. 

=E2=80=9CWe are in a cybercrime arms race,=E2=80=9D said Bob Carr, Heartland=E2=80=99s chair and 
CEO, in explaining why Heartland intends to deploy the custom-built 
encryption equipment. 

During the company=E2=80=99s financial earnings call, Carr and other Heartland 
executives acknowledged the breach is proving a heavy financial burden 
and that there=E2=80=99s no estimated total cost. 


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LayerOne 2009, Information Security for the discerning professional. 
May 23-24 2009 @ The Anaheim Marriott in Anaheim, California 
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