The cost of data losses to UK companies is more than double the global average a new survey has revealed.

The survey carried out by Vanson Bourne, polled over 1,600 IT and business decision makers, over 16 countries and 10 industry sectors.

The survey found that the main costs from data losses to businesses, related to security breaches, with the average UK cost coming in at $1,158,077, compared to a worldwide average of $860,273.

The disparity comes despite a similar average for the numbers of reported security breaches.

Respondents pointed to a lack of readiness, advanced security and back-up and recovery functions, as being the main causes for data losses.

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