Target Hack to cost likely around $350 million

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The data hack of Target commercial chain has costed the the company $148 million as per Traget sources.

The expenses – offset by a $38 million insurance payout – are owed to what it expects to pay in potential breach claims, but those expenses could go higher, the company admitted.

Its coming second-quarter results will include $148 million in expenses related to the breach. It will get back $38 million of that via an insurance payout, but it’s still enough to be a drag on results. It means to total costs of the hack across all the parties involved is likely over $350 million.

Forty million credit and debit cards were compromised in the breach, along with the personal data of 70 million shoppers.


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