The true cost of being hacked

Putting a figure on the cost of data breaches is akin to nailing jelly to a wall. Yet as enterprises attempt to insure themselves against losses and CISOs fight for budget, it is increasingly important to work out the financial impact of a data breach on the organisation. Putting a figure on the cost of data breaches is akin to nailing jelly to a wall. Yet as enterprises attempt to insure themselves against losses and CISOs fight for budget, it is increasingly important to work out what a data breach could cost. Tracey Caldwell reports on how the impact of data breaches is being calculated and the factors that affect how much a data breach will affect an organisation's bottom line – ranging from expenses incurred by partners and customers, through bringing in expert help, to installing security technology to prevent data loss from happening again.