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.

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