MINNEAPOLIS—It isn’t just financial institutions paying a price for the Target breach; the company itself is estimating its total related costs are now approximately $252 million.
Insurance has covered $90 million of that expense, leaving Target on the hook for $162 million to date. The 2013, high-profile Target breach is estimated to have exposed information on 40 million payment cards and personal information on 70 million people.
With numerous class action lawsuits having been filed, analysts are predicting that Target will be paying breach-related costs for years to come.