Sony's top executive defends the company's decision to wait a week after its major security breach to inform consumers, and said that it acted swiftly in doing so. Howard Stringer added that most security breaches go unreported to consumers. When companies do inform consumers, he says, it often takes them nearly a month to do so.
"We reported in a week. You are telling me my week wasn't fast enough?," said Stringer.
According to Stringer only 43 percent of companies inform consumers about security breaches. In the United States there are laws that require companies to tell customers about security breaches, and with Sony's high profile situation, you can bet that lawmakers are going to make those laws even tougher.
"This was an unprecedented situation," Stringer said, speaking publicly for the first time since the PSN and Station security breach.
Sony is still calculating how much this whole mess will cost them in the long run. Yesterday Stringer said that security breaches like the one Sony experienced may be the new norm for companies that handle personal data.
"There's a charge for system being down, a charge for identity theft insurance," said Stringer. "The charges mount up but they don't add up to a number we can quantify just yet."