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Is data security a waste of money?

The study surveyed about 1,000 consumers and 660 business and cyber security professionals from over 600 companies earning at least $100 million in annual revenue across ten countries, including the US, UK, Australia, China, India and Japan. It found that 48 percent of consumers stopped trusting and using a company’s services because of a data breach.

Though company executives admitted that the breach negatively affected their bottom line, one-third of business execs from major global companies said they saw security initiatives as a negative return on investment.

Source: Data security is a waste of money, says execs whose companies suffered data breaches, Business Insider – Business Insider Singapore