RESTON, Va. and SPOKANE, Wash., Oct. 19, 2021 (GLOBE NEWSWIRE) — When estimating the costs of a data breach, several factors can be independently quantified, including an organization’s industry, the source and origin of the threat actor, and the number of records, according to findings in the study, “Estimating Financial Losses From a Data Breach,” authored by RiskLens, the leading provider of cyber risk quantification (CRQ) and cyber risk management software and services. These factors can mean higher cyber event risk costs.
RiskLens data scientists found that, in simulated environments, as the number of records in data breaches increase by 10 percent, businesses can expect primary response costs to rise 5.3 percent. The research also found that data breaches caused by external actors are 2.4 times more expensive than those caused by internal actors. The healthcare, information and financial industries are more likely to experience a higher degree of costs to their businesses than other industries.
Study highlights will be shared in a case study session, “Accelerating FAIR Analyses by 10x with Industry Data,” Wednesday, Oct. 20, at 1:15 p.m. ET, led by Justin Theriot,…
