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Political Factoid
The big Sony playstation security
incident in 2011 is estimated to have
cost Sony more than $1.5 billion.
In addition, credit card lenders could
lose business:
- Even if all of the credit cards for
customers affected by the breach are
replaced quickly, new cards
take time to be activated.
- Also, consumers may be reluctant
to use any brand of credit card if they
they perceive there is a higher risk
because it might have been involved
in a hacking episode.
The poor credit card industry:
The U.S.credit card banks that issue
Visa and Master Cards reported
$2.12 billion in
after-tax profits in 2010.
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