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Firms lax over cyber security despite suffering $37 billion in losses

Posted On: Jul. 16, 2019 7:10 AM CST

A report found that 63% of U.K.-based mid-sized companies have not appointed a board member for cybersecurity despite data breaches costing businesses about £30 billion ($37 billion) in the last 12 months, Financial Director reported. The report by U.K.-based accountancy firm Grant Thornton L.L.P. found that more than half of the firms reported up to 10% of revenue losses after a cyber attack.

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