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Putting a Price Tag on Cyber Crimes

Calculating the cost of thefts of intellectual property poses particular challenges for companies.

By Susan Kelly | Updated on July 15, 2013
As cyber attacks become increasingly common, regulators and legislators have criticized the limited information companies make public about cybercrimes they experience. Experts note, though, that it’s often a challenge for companies to put a dollar value on the damage they’ve suffered.

A U.S. Executive Order on cybersecurity last year described the cyber threat to the nation’s critical infrastructure as “one of the most serious national security challenges.” But David Burg, global and U.S. advisory cybersecurity leader at PwC, noted that despite that characterization, “what we do not see is significant disclosures in public filings. There is this disparity.”

Burg noted that “it’s very hard for companies to quantify the damages,” but added, “It may also be the case that companies do not necessarily want to disclose the full impact of an IT theft.”

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