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Why EMV is Not the Only Answer to Payment Security
2013 was the worst year yet in terms of data breaches, with over 740 million records exposed, and 2014 is shaping up to be more of the same. Security analysts estimate the costs of the data breach that hit U.S. retailer Target are approaching half a billion dollars for the company. The total cost of the breach including losses incurred by banks, consumers and others–could easily reach into the billions of dollars, and the incidents continue in the food industry, state government, and other sectors.