“Before [the recent spate of breaches], “It was ya I get it security, blah, blah, but I don’t have outrun the bear, I just have to outrun you,’” says David Cowan, a partner at Bessemer Venture Partners. “Now you have to outrun the bear. It is coming after you.”
When it comes to data breaches, retailers are one of the biggest targets these days, and today we have some detail on the costs around one of the more high-profile attacks. Target today said that it has booked $162 million in expenses across 2013 and 2014 related to its data breach, in which hackers broke into the company’s network to access credit card information and other customer data, affecting some 70 million customers.