RSA Breach Costs Parent EMC $66.3 Million
August 2, 2011
Total Loss:
$66.3 Million
The damage caused by March's breach of security provider RSA (see RSA Says Hackers Take Aim At Its SecurID Products), aimed at its SecurID multifactor authentication token, did more than tarnish its reputation; it cost parent company EMC at least $66.3 million.
EMC Executive Vice President and Chief Financial Officer David Goulden, in a conference call with analysts last month, said the $66.3 million, taken as a charge against second quarter earnings, covered costs to investigate the attack, harden its IT systems and monitor transactions of corporate customers anxious that their SecureID security tokens had been compromised as well as the cost to replace some of the tokens.
Source:
Gov Info Security
Posted in:
Account Takeover Identity Theft
Deposit Account Fraud
ACH and Wire Fraud