Cyber Attack Cost EMC $66 Million

According to its earnings call released yesterday, EMC Corporation spent $66 million in the second quarter to combat a cyber attack that compromised its RSA security division.

The company used a significant portion of the money for transaction monitoring for the company’s corporate customers following the attack. EMC also offered replacements to any company that requested them.

“We incurred an accrued cost associated with investigating the attack, hardening our systems and working with customers to implement our remediation programs,” said David Goluden, EMC’s executive vice president.

The report revealed the company’s suspicions it was targeted for information on its defense and government agencies, not for financial information. The RSA breach is believed to have led to an attempted attack on defense contractor Lockheed Martin.

email
Filed in: Cyber Tags: , , , ,

You might like:

Ball Aerospace Delivers Camera, Antenna Systems for Orion Spacecraft; Jim Oschmann Comments Ball Aerospace Delivers Camera, Antenna Systems for Orion Spacecraft; Jim Oschmann Comments
Stephen Ball: Lockheed Opens UK Testing Lab for F-35 Mission Systems Stephen Ball: Lockheed Opens UK Testing Lab for F-35 Mission Systems
Lockheed Opens Navy Innovation Center to External Research; Jim Sheridan Comments Lockheed Opens Navy Innovation Center to External Research; Jim Sheridan Comments
Lockheed, Concord Blue Partner for Bioenergy Power Generation Project in Germany Lockheed, Concord Blue Partner for Bioenergy Power Generation Project in Germany
© 2014 ExecutiveBiz. All rights reserved.