June 1st, 2010 by lhaasThe courts are not showing much compassion for organizations that allow security breaches. We’re seeing theses cases in increasing numbers — organizations are expected to provide more than your standard security these days.
In a legal settlement over its 2008 security breach, Heartland Payment Systems has agreed to pay up to $41.4 million to MasterCard Worldwide and its card issuers to repay operational costs and fraud losses attributed to the breach.
Under the agreement, Heartland will fund up to $41.4 million of “alternative recovery offers” to be made to eligible MasterCard card issuers to settle their claims for losses incurred as a result of the breach. Issuers accepting the offers must agree to certain terms and conditions.
