One in three IT professionals fears a major data security breach – accidental or malicious – could put them out of business, research conducted by Datamonitor for security firm McAfee has found.
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The survey of 1,400 IT professionals from companies with more than 250 employees also found that 60% had experienced a data breach in the past year, but that the average spend on data security was just 0.5% of overall IT budgets.
A data breach that exposes personal information could cost companies an average of £134,000 to inform their customers - even if the lost data is never used.
The average cost of a data leak is £900,000.
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