4 Reasons U.S. Breaches Are the Most Expensive in the World

Joan Antokol is internationally recognized for her work in data protection. She is the founder and managing partner of Park Legal LLC, and she lead a revealing session on Day 1 of SecureWorld Boston.

In addition to looking at the changing landscape of breach notification laws across the country, she explained that breaches are more expensive in the United States, on average, than any other country on the planet.

Why?

4 reasons breaches in the U.S. are the most expensive

1. U.S. breaches are more likely to be litigated than in other countries.
2.  Breaches in the U.S. are more widely reported by the U.S. media, which is now highly fascinated with the topic.
3. U.S. regulators are more active than those in most other countries, sometimes because of pressure that comes from media coverage.
4. Credit monitoring costs: In many countries, this does not have to be offered.

Antokol also cited another trend that will likely raise costs in the U.S. going forward: Some types of cyber incident litigation that were regularly thrown out are now being dismissed in smaller numbers.

Translation: Litigation costs are likely headed up.