By Minda Smiley

Retailer Target’s latest financial report shows that breach-related expenses not covered by insurance have come to $162m in 2013 and 2014.

In the report, the company said it incurred breach-related expenses of $4m in the fourth quarter of 2014 and full-year net expense of $145m.

Fourth quarter and full-year 2013 costs related to the breach were $17m.

President and co-founder of cloud control company HyTrust Eric Chiu said: “The major breaches such as Target, Sony and Anthem damage brand reputation and consumer trust, but they also have a real impact on the bottom line.”

He also added that the $162m spent so far by Read full story ›

Source: The Drum