- JUNE 9, 2011, 6:28 P.M. ET
BY APARAJITA SAHA-BUBNA
The hacking incident at Citigroup Inc. could cost the company millions of dollars for customer notifications, card replacements and defections by jittery account holders.
The attack, which affected 1% of Citi’s North American bank card customers, is one of a string of breaches world-wide, underscoring how widespread corporate breaches have become.
Such breaches cost companies, on average, $7.2 million per incident in 2010, according to a survey by the Ponemon Institute, a research organization focused on information security policy. …