Case Study: Target. Target’s Securities & Exchange Commission filings show:
- costs thus far of $290 Million
- estimated future costs will total $370 Million
Case Study: Anthem Insurance. Anthem’s SEC filings show it cannot estimate the cost of its data breach because:
- ongoing investigation
- early stage of legal proceedings progress
- unknown damages
- uncertain number of lawsuits that will be filed
In additional to actual costs, there are soft costs to a data breach such as:
- lost contract revenue
- lost customers
- brand damage
eweek | Researchers Struggle to Determine True Cost of Data Breaches