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Data breech could put companies out of business: McAfee

Briefs | 04/25/2007 11:00 am EDT

According to results of a McAfee Inc.-sponsored survey of 1,400 IT professionals, major data losses could severely or even bankrupt companies. The survey was conducted by Datamonitor. About one-third of those surveyed believe that a loss of data involving either an accidental or malicious distribution of confidential data could put them out of business. The survey also revealed that despite the prevalence of breaches, enterprises still aren't devoting enough financial resources to address the problem. On average, respondents allocate one-half of 1% of their overall IT budgets to data security. 

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