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17 Law & World 15 (2021)
Cyber Risk Mitigation in Higher Education

handle is hein.journals/lwwrld17 and id is 15 raw text is: #17, April, 2021 CYBER RISK MITIGATION IN HIGHER EDUCATION George B. Liluashvili Assistant Professor, MA in Criminal Justice, USA Farmingdale State College, The State University of New York KEYWORDS: Cybersecurity, Cyberattacks, Cyber Risk Mitigation, Data Breaches INTRODUCTION Cyberattacks on higher education institutions and effective threat mitigation strategies have not been fully explored and pose many unanswered questions. According to the news organization Comparitech, from 2005 to 2020, there have been 1,327 breach- es in the educational system in the United States, including K-12 schools, colleges, and universities, and it is estimated that 24.5 mil- lion records have been stolen or compromised.1 According to IBM's data breach calculations by the industry, it can cost around $140 to $260 on average per stolen record in the educational system.2 This cost can reach billions of dollars; the exact costs can depend on the extent of a data breach, how much time it took to identify and contain the breach, compensating victims, and resolving lawsuits. Conducting proper research on cyberattacks and threat mitigation on higher education institutions is crucial as it has the potential to identify and isolate the factors that make higher education institu- tions more prone to cyberattacks. 1 Cook, S. (2020). US schools leaked 24.5 million records in 1,327 data breaches since 2005. Comparitech. Retrieved November 22, 2020, from https://www. comparitech.com/blog/vpn-privacy/us-schools-data-breaches/ 2 IBM. (2020). How much would a data breach cost your business? Retrieved November 23, 2020, from https://www.ibm.com/security/data-breach 0) 0 0