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In follow up to yesterday's post about the Sony PlayStation Network outage due to cyber criminal activity, analysts are now estimating that the breach could cost credit card lenders upwards of $300 million.

In follow up to yesterday's post about the Sony PlayStation Network outage due to cyber criminal activity, analysts are now estimating that the breach could cost credit card lenders upwards of $300 million. Analysts have previously estimated that the incident could cost Sony more than $1.5 billion, but this is the first time they have put a price tag on how much major lenders will also suffer. "It's not insignificant," Sanjay Sakhrani, analyst at Keefe, Bruyette & Woods, told Reuters at the sidelines of a payments industry conference in Miami Beach on Wednesday evening. The FBI is working with federal prosecutors in San Diego as agents try to determine the facts and circumstances surrounding the alleged crimes, FBI spokesman Darrell Foxworth said on Thursday. Each customer request to replace a credit card would cost lenders about $3 to $5 per card, several analysts told Reuters on Wednesday and Thursday. Those costs would include the new piece of plastic itself, postage, and various customer service costs. In a word, OUCH. What remains to be seen, however, is how this will shake out in each state where consumers' private data was affected. With all of the complex laws in place across the country, this will be a mess that will be even more complicated to figure out than playing Halo.