n its 2014 full-year earnings report, the retailer Target has revealed that the cost of the cyber attack on its systems in 2013 that led to the theft of millions of customers' credit card details has reached $162m

According to the explanations provided by the company, the amount would have been higher had it not recovered some of the money through insurance payouts.

According to various reports, hackers have been found selling Target customers’ credit card data in Eastern Europe since the breach, and the firm’s CIO and CEO have both left the company following the incident.

The cost reported above and other corporate implications underline the risk to businesses of data breaches, both financially and legally.