Global Payments Hit With $84M Bill For Data Breach

Law360, New York (July 27, 2012, 7:24 PM EDT) -- Global Payments Inc. said Thursday a security breach that exposed consumers' payment cards to fraud will cost it $84.4 million.

The Atlanta-based processor of card transactions for banks and retailers recorded a pretax charge for that amount for the fiscal fourth quarter and full-year 2012, the company said in a press release.

The charge includes expected fines from credit-card networks such as Visa Inc. and MasterCard Inc. and expenses related to its investigation and remediation.

The company disclosed the breach in March, saying it believed a...
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