Two Coker University students recently represented the University at a statewide research event, sharing work that examines the growing financial impact of cyberattacks on businesses across South Carolina.
Jeffery Stiles and Walji Dadem presented their research at the 2026 South Carolina Independent Colleges and Universities (SCICU) Undergraduate Student and Faculty Research Symposium. The annual event brings together students and faculty from independent colleges and universities across the state to showcase undergraduate research and academic collaboration.
Their project focuses on how cyberattacks affect businesses in South Carolina and how cybersecurity practices influence the financial losses organizations experience.
As cybercrime continues to rise across the country, the students set out to better understand the financial consequences of these incidents for businesses and the steps organizations can take to reduce risk and recover more effectively after an attack.
Using quantitative analysis, the project combines cybersecurity and financial data from several sources, including the FBI Internet Crime Complaint Center, U.S. Securities and Exchange Commission filings, and South Carolina government data. The research examined approximately 50 companies across healthcare, finance, manufacturing, and retail.
By analyzing this data, Stiles and Dadem explored how factors such as industry type, cybersecurity investment levels, attack type, and breach severity relate to financial losses and the number of organizations affected.
Their findings show that cyber incidents present a significant financial risk for businesses. On average, the companies studied experienced losses exceeding $7 million, with some incidents surpassing $40 million. The research also indicates that cybercrime-related losses have steadily increased in recent years.
The study also highlights that while cybersecurity investment is important, other factors can play a critical role in reducing the impact of attacks. Employee training, strong access controls, and faster incident response were all identified as practices that can help organizations better protect themselves and limit financial damage.
The research was conducted at Coker University under the guidance of Dr. Richmond Adebiaye. For Stiles and Dadem, presenting their work at the SCICU symposium offered the opportunity to share their findings with students and faculty from across the state and to contribute to conversations about one of today’s most pressing business and technology challenges.
Experiences like this reflect Coker University’s commitment to hands-on learning and undergraduate research. By working closely with faculty mentors and engaging in real-world research questions, students gain valuable experience that prepares them for careers and graduate study.
The SCICU Undergraduate Student and Faculty Research Symposium provides a platform for students across South Carolina to present their work, exchange ideas, and celebrate academic achievement.
