What Underwriters Don’t Know Can Cost Them…Dearly

Originally published on CyberInquirer

The occurrence and frequency of cyber breaches are not as transparent as one might expect. Or hope, for that matter. To the contrary, the FBI's chief cyber crimes investigator recently admitted that "thousands" of cyber crimes have gone unreported due to companies' fears about the impact of adverse publicity on their reputations and bottom lines.

According to Shawn Henry, assistant director of the FBI's Cyber Division, hackers regularly access computer security systems and steal millions of dollars and credit card numbers without such incidents ever being publicly reported. Indeed, Mr. Henry has acknowledged that "[o]f the thousands of cases that we've investigated, the public knows about a handful...There are million-dollar cases that nobody knows about."