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English: Average cost of data breach in Germany (source: Ponemon study) Date: 14 October 2011: Source: Own work: Author: ... Average cost of a data breach in Germany
Insider threat is an active area of research in academia and government. The CERT Coordination Center at Carnegie-Mellon University maintains the CERT Insider Threat Center, which includes a database of more than 850 cases of insider threats, including instances of fraud, theft and sabotage; the database is used for research and analysis. [2]
It is estimated that the average cost of a data breach will be over $150 million by 2020, with the global annual cost forecast to be $2.1 trillion. [ 2 ] [ 3 ] As a result of data breaches, it is estimated that in first half of 2018 alone, about 4.5 billion records were exposed. [ 4 ]
On Monday, the city expanded the budget for the hack to $7 million; $3 million of that is new funding approved at council’s meeting Monday to cover costs through the rest of the year.
[2] [3] One of the largest breaches of government data in U.S. history, [1] information that was obtained and exfiltrated in the breach [4] included personally identifiable information such as Social Security numbers, [5] as well as names, dates and places of birth, and addresses. [6]
In 2016, researcher Sasha Romanosky estimated that while the mean breach cost around the targeted firm $5 million, this figure was inflated by a few highly expensive breaches, and the typical data breach was much less costly, around $200,000. Romanosky estimated the total annual cost to corporations in the United States to be around $10 billion.
The Gordon-Loeb model provides a framework for determining how much to invest in cybersecurity, using a cost-benefit approach. The model includes the following key components: Organizational data vulnerable to cyber-attacks, with vulnerability denoted by v (0 ≤ v ≤ 1), representing the probability of a breach occurring under current conditions.
On June 3, the Government of Nova Scotia estimated that as many as 100,000 present and past employees were impacted by the breach. [ 3 ] On June 5, various organizations in the United Kingdom, including the BBC , British Airways , Boots , Aer Lingus , and payroll service Zellis were breached.
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