PC Magazine shares a potential sizeable cost for every participating business

MasterCard, Visa Data Theft May Cost Each Business $1.6 Million

QUOTE:  It’s still a mystery how many MasterCard and Visa customers will be affected by the recent breach at a credit card payment processor. Regardless of the actual size of the breach, businesses are the ones who will be held liable.  If the original estimate from Brian Krebs, the security expert behind Krebs on Security, stands, a single retailer could potentially be on the hook for a whopping $1.6 million, according to a data breach assessment generated by CO3 Systems. CO3 Systems helps businesses assess data breach incidents and develop incident response plans to navigate the maze of compliance and regulatory requirements through its data loss management platform. Sources told Krebs the breach was “massive” and may involve more than 10 million records.