The shady world of internet hackers have hit again. Late last week, Facebook said it had been victimized by a “sophisticated attack” –designed to disrupt –or gain access to data from the social media powerhouse.

In a statement, Facebook said, “As part of our ongoing investigation, we are working continuously and closely with our own internal engineer teams, with security teams at other companies, and with law enforcement authorities to learn everything we can about the attack, and how to prevent similar incidents in the future.”

Sam Hamadeh, business attorney, said, “Anytime you have an incident like this, it is just going to help shatter public confidence in social networks.”

Sam Hamadeh points out, that there is the public side to Facebook. Then, there is a parallel entity – a consumer website. That side of Facebook is for developers of games, dating sites and so on.

For Facebook as a business – Hamadeh says the hacking couldn’t come at a worse time for the company.

Sam Hamadeh, business attorney, said, “In its recent earnings announcements, Facebook has touted facebook “gifting”, right, you can essentially click a button and buy a gift for a friend that has a birthday or Facebook commerce that requires Facebook to store your credit card.”

Facebook says it has found no evidence that user data was compromised.

There is no question hackers are becoming more sophisticated. Today, giving the fast food giant Burger King, a whopper of an embarrassment – BK’s site, with 89,000 followers was made to look like McDonald’s, saying Burger King had been sold. It is all a fabrication.

The real danger is hacking costs company loads of money from the clean-up and investigation and beyond.

If businesses are subject to hacking that jeopardizes credit card security, banks could shut down the ability to process credit cards and that in turn could effectively put a company out of business.