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Major data loss could destroy a firm

IT professionals believe a major data breach could lead to company going out of business, says McAfee.

A serious security breach, even if unintentional, could lead to the collapse of a large corporation, IT professionals believe, according to a report released by McAfee.

The research found 33% of all respondents think a major data loss incident involving accidental or malicious distribution of confidential information could put them out of business.

The report - Datagate: The Next Inevitable Corporate Disaster - conducted by Datamonitor, surveyed more than 1,400 IT professionals at companies with at least 250 employees all over the world.

The findings also suggests while awareness regarding the danger of breaches is high, the problem continues to grow, with 60% of respondents saying they had experienced a data breach in the past year. Only 6% of respondents could say with certainty that they had not experienced one in the previous two years.

Despite the prevalence of breaches, the study found enterprises are still devoting on average just one-half of one percent of their overall IT budgets on data security.

"Six in ten companies admitting a breach in just the past year is ample proof that more needs to be done to address this very serious problem," said Patrick Hayati, regional director at McAfee Middle East.

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