Bad press following a security breach hits companies hard. In fact, it can be so damaging that “two-thirds of companies would pay an average of $124k to avoid public shaming scandals,” according to a recent Bitdefender survey of 250 IT security professionals. What’s more, “some 14 percent would pay more than $500k.”
If you think that’s a high price to pay, consider this: 34 percent of companies were breached in the past 12 months, according to the report, and “74 percent of IT decision makers don’t know how the company was breached.”
Among the survey’s other notable findings is that while 64 percent of respondents said they think their current security budget is sufficient, they also admitted that “only 64 percent of cyberattacks can be stopped, detected or prevented with the current resources.”
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