Modelling a Data Breach: The Financial Implications

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Presented at InfoSecurityEurope 2019 by

Peter Erceg

With large scale data breaches continually attracting large headlines, businesses are ever increasingly assessing their internal preparedness. Crucial to this process is assessing the potential cost such an event would have on a business, which is where different modelling techniques can help. There are multiple benefits to going through this process, such as assisting in deciding how a business goes about protecting their balance sheet, providing evidence to C-suite stakeholders of how a data breach can impact a business and providing evidence to regulators and shareholders that the business is taking the planning for such an event seriously.Learning Outcomes:An understanding that how a data breach would affect a balance sheet should be a key part of business planning. An awareness of the various tools available to help model the financial implications.A discussion of the different approaches to fund the financial cost of a data breach.An awareness of the benefits of going through the process of assessing the cost of a data breach.Emphasis on the fact that within a business a data breach/ cyber incident is not just an IT issue.