40% of Asian companies report financial losses due to data breaches

Tuesday 24 June 2014 00:42 CET | News

In 2013, 40% of Asian companies have reported major financial losses due to data breaches, recent findings point out.

According to a survey sponsored by Akamai Technologies, only 35% of Asian companies are confident that they have not had a data breach in the past year.

Research also indicates that despite lapses in data security, corporate executives are not blaming their own IT departments. In fact, results unveil that 85% of companies in Asia believe their own IT security systems are trustworthy. And 47% of business leaders agree that collaborating with industry by increasing the disclosure of breaches when they happen can minimise damage. However, collaboration remains rare, with companies unwilling to disclose the occurrence of customer information breaches with the media or competitors.

The study is based on a sample of more than 200 senior executives in Asia.

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Keywords: financial losses, data breach, online security, fraud, Asia
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events