Learning from the Dark Web Dimension of Data

If data should be treated like money, how do we figure out how much it is worth? What is the value of sensitive personal data to individuals and businesses? Often, it is only when that data is lost or compromised do we understand its true value.

Currently, the value of compromised or lost data is based on the consequences of a breach or major exposure: cost of remediation, damage to corporate reputation, drop in share price, or enforcement actions, legal settlements, and payouts. We acknowledge and understand that the fallout from lack of security is expensive, however, we need a better way to measure and evaluate compromised digital assets.

On the underground economy of the dark web, cybercriminals have created a market for data, including pricing based on monetization. This market prices the goods (data) and can help us estimate the cost to the economy. Cybercrime pays and data is the gateway good, an item of value in and of itself. The valuation of this data and market activity can quantify the effective harm caused by cybercrime, fraud, and identity theft. Using concepts from economics, this talk aims to provide an alternative framework for valuing stolen and leaked personal and financial data to help us fight cybercrime more effectively and empower business to operate more securely.

This talk aims to provide an alternative framework for valuing stolen and leaked personal and financial data to help us fight cybercrime more effectively and empower business to operate more securely.