The cost of those breaches is often externalised - https://www.investopedia.com/terms/e/externality.asp https://www.investopedia.com/terms/e/externality.asp ht

The cost of those breaches is often externalised - https://www.investopedia.com/terms/e/externality.asp https://www.investopedia.com/terms/e/externality.asp https://www.bjs.gov/index.cfm?ty=tp&tid=42 https://www.bjs.gov/index.cfm?ty=tp&tid=42 indicates that 17.6 million americans were affected by identity theft in 2014 .. sounds significant. The other thing to consider is the impact it can have on someones life, even if 99.5% of Americans aren't affected in any given year and only 17 million were, the impact of it can be huge on an individuals life. ps just used America as that was the first stats I found. First world is going to be a more prevalent target as they have more money to steal ..