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Case Studies (Cyber) / Industry Innovations

How Much Would a Cyberattack Cost Your Enterprise?

The tool does not require identifying information, and it does not collect data without opt-in permission.

The Economist Intelligence Unit launced a new, free online tool – CyberTab – earlier this spring to help companies tally the cost of specific cyberattacks.

Tool users, including information-security, risk, financial and other senior executives, can input a range of expenses and estimated costs for either a specific scenario or actual breach, and the app, sponsored by Booz Allen Hamilton, would generate a comprehensive report explaining the total cost and enabling a cost-benefit analysis of security strategies.

The tool does not require identifying information, and it does not collect data without opt-in permission.

According to Riva Richmond, editor at The EconomistInteligence Unit: “Today cyberattacks are ‘not if, but when’ for nearly all companies—and the financial fallout is severe and likely to get worse. Yet deep corporate fear about disclosure has led to a culture of secrecy that has hurt our ability to understand the size and shape of the problem we face. It also makes it harder for companies to learn from each other and devise more robust defence strategies.

“Executives can gain new insight into their own company’s risks by using CyberTab, and can do so anonymously and leave no trace of their data. But we want people to be part of the solution and take part in our research programme. By submitting data anonymously, they will be taking a step towards a broader understanding this complex problem.”

You can use the free tool here

 

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