The Cost and Confidence Research study of 293 senior managers in mid to large size companies has found that almost four in ten executives believe their company will be the victim of a successful cybercrime attack. The same proportion of managers also admitted to breaches last year, and a third of senior managers said that they had no idea if their organization's infrastructure had been hacked at all.

"It's time for security professionals to stop and rethink their information security strategies, unless they wish to embrace a future of endless spending and diminishing returns. It is critical for organisations to develop a proactive network risk management philosophy and meaningful compliance reporting, in order to break this cycle of security spending that delivers no improvement in security performance and confidence," said Kevin Lamb, Director of EMEA Operations at vulnerability management firm nCircle.