Who pays the bill following the Target credit card breach? The customers? Target? What about the banks that incur costs in reissuing cards? How about Visa and MasterCard and American Express?
“In a Cyber Breach, Who Pays?” Wall Street Journal, January 13, 2014 B1 http://on.wsj.com/1aktmvU
I’m sure Judge Learned Hand would have a crisp and cogent analysis. But In Re the T.J. Hooper case would seem to say that there is negligence in not availing oneself of available technology. There a radio, here a smart chip in the cards.
Who is best able to protect against the risk of hackers? Would a smart chip in the credit cards as in Europe have lessened the damages? Who has the duty? 70 million people want to know.
Oh, to be a lobbyist in Washington!