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Cost of a data breach: The evolving role of law enforcement

25
Oct
2023
Cost of a data breach: The evolving role of law enforcement

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If someone broke into your company’s office to steal your valuable assets, your first step would be to contact law enforcement. But would your reaction be the same if someone broke into your company’s network and accessed your most valuable assets through a data breach?

A decade ago, when smartphones were still relatively new and most people were still coming to understand the value of data both corporate-wide and personally, there was little incentive to report cyber crime. It was so difficult to catch cyber criminals, and the reputational and financial damage caused by reporting a cyber incident had many business leaders wondering if contacting local law enforcement and going public with the data breach could do any good. Certainly, no one would have even considered contacting a federal agency like the FBI.

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