Feeds

PlayStation Network breach will cost Sony $171m

And counting

Top 5 reasons to deploy VMware with Tegile

The cost of a criminal intrusion that exposed sensitive data for more than 100 million Sony customers and resulted in a 23-day closure of the PlayStation Network will cost the company at least $171 million, executives said.

The estimated cost doesn't included expenses related to any lawsuits that may be filed in response to the security breach, which was discovered on April 19. The estimate includes expenses of an identity theft prevention program and promotional packages to win back customers, among other things.

"So far, we have not received any confirmed reports of customer identity theft issues, nor confirmed any misuse of credit cards from the cyber-attack," Sony told investors. "Those are key variables, and if that changes, the costs could change."

The figures supplied by Sony beats initial estimates of costs resulting from other large data breaches. In 2007, retailer TJX Companies set aside $118 million to cover a database hack that exposed data for at least 45.6 million payment card accounts. Heartland Payment Systems reserved about $105 million for lawsuits related to costs in an attack that allowed hacker and carder Albert Gonzalez to obtain records for as many as 100 million cards.

Some Sony PlayStation Network services still have not been brought back online. The PlayStation Store, for instance, remains down, closing a venue that allowed the company to sell downloadable games.

Sony said the effects of the March earthquake the struck Japan will be about $268.9 million. The company said its loss for the fiscal year that ended on March 31 will be about $3.18 billion. ®

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.