McAfee, Inc. Releases New Research Suggesting Data Loss Will Lead to Next Major Corporate Collapse
A Third of Enterprises Surveyed Believe a Major Breach Could Put Their Companies Out of Business
INFOSEC, LONDON, April 24 / -- McAfee, Inc., (NYSE:MFE), today announced it has released a report, Datagate: The Next Inevitable Corporate Disaster?, revealing a widespread belief that a major security breach, even an unintentional one, could lead to the collapse of a major corporation. The global research, conducted for McAfee® by Datamonitor, surveyed more than 1400 IT professionals at companies with at least 250 employees in the United States, the United Kingdom, France, Germany and Australia. Thirty-three percent of respondents said they believe a major data loss incident involving accidental or malicious distribution of confidential data could put them out of business.
The research also suggests that while awareness regarding the danger of breaches is high, the problem continues to grow. Sixty percent of respondents said they had experienced a data breach in the past year, and only six percent of respondents could say with certainty that they had not experienced one in the previous two years. However, despite the prevalence of breaches, enterprises are still devoting just a fraction of their IT budgets to the problem. On average respondents spend just one-half of one percent of their overall IT budgets on data security.
Additional key findings from the research include:
o A data breach that exposed personal information would cost companies an
average of $268,000 to inform their customers -- even if the lost data
is never used
o Sixty-one percent of respondents think that data leakage is the doing
of insiders, and 23 percent believe those leaks are malicious
o Nearly half (46 percent) of respondents don't debrief or monitor
employees after they have given notice that they are leaving the
company
o Twenty-three percent of respondents were able to estimate the total
annual cost of data leakage, and the average figure they gave was $1.82
million
o Respondents rated loss of intellectual property and financial
information as the two most valuable classes of data -- with the
average estimated cost of leaked financial data reaching $1.68 million.
"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 Dave DeWalt, president and chief executive officer at McAfee, Inc. "Awareness alone isn't enough. To protect customers, employees and shareholders, data loss prevention needs to become a top priority at every level of the organization, from the board room to the lunch room."
About McAfee, Inc.
McAfee Inc., the leading dedicated security technology company, headquartered in Santa Clara, California, delivers proactive and proven solutions and services that secure systems and networks around the world. With its unmatched security expertise and commitment to innovation, McAfee empowers home users, businesses, the public sector, and service providers with the ability to block attacks, prevent disruptions, and continuously track and improve their security. http://www.mcafee.com/.
McAfee is a registered trademark of McAfee, Inc. and/or its affiliates in the US and/or other countries. McAfee Red in connection with security is distinctive of McAfee brand products. All other registered and unregistered trademarks herein are the sole property of their respective owners.
FCMN Contact: diana.williams@redconsultancy.com
Source: McAfee, Inc.
CONTACT:Erica Coleman of McAfee, Inc., +1-408-346-5624, or erica_coleman@mcafee.com; or Ian Bain of Red Consultancy, +1-415-618-8806, or ian.bain@redconsultancy.com, for McAfee, Inc.
Web site: http://www.mcafee.com/
