Exploring Key Issues in Cybersecurity Data Breaches: Analyzing Data Breach Litigation with ML-Based Text Analytics

While data breaches are a frequent and universal phenomenon, the characteristics and dimensions of data breaches are unexplored. In this novel exploratory research, we apply machine learning (ML) and text analytics to a comprehensive collection of data breach litigation cases to extract insights from the narratives contained within these cases. Our analysis shows stakeholders (e.g., litigants) are concerned about major topics related to identity theft, hacker, negligence, FCRA (Fair Credit Reporting Act), cybersecurity, insurance, phone device, TCPA (Telephone Consumer Protection Act), credit card, merchant, privacy, and others. The topics fall into four major clusters: "phone scams", "cybersecurity", "identity theft", and "business data breach". By utilizing ML, text analytics, and descriptive data visualizations, our study serves as a foundational piece for comprehensively analyzing large textual datasets. The findings hold significant implications for both researchers and practitioners in cybersecurity, especially those grappling with the challenges of data breaches.