Identifying the Factors in Reporting the Cost of a Hack

Cybersecurity professionals often advise their managers and companies about responding to attacks and/or implementing prevention measures. Managers and companies typically base their actions on the cost to the company and the return on investment. However, there has never been a good summary of the expenses incurred by a company from a hacking attack. Cybersecurity professionals cannot adequately inform their managers if they do not have complete information on these costs. Courses educating technical professionals rarely, if ever, address the full spectrum of business issues on the subject. This paper gives a comprehensive picture with a fundamental template of the costs involved so that a professional can fully counsel management and produce defendable estimates for reimbursement from insurance or testify in legal actions.