Institutional investors are pressing for company boards to sharpen up their cyber-security knowledge and practices, according to a new report conducted by FTI Consulting on behalf of KPMG.

Investors take the issue so seriously that a cyber-attack could even cost a business it's financial backing, according to KPMG. The report found that 79 percent of these investors would be discouraged from investing in a business that had been hacked. The report is based on a survey of 133 institutional investors from around the world who together manage over $3 trillion worth of investments.

“Investors see data breaches as a threat to a company's material value and feel discouraged in investing in a business that has had its sensitive information compromised,” said Malcolm Marshall,  global leader of KPMG's cyber security practice.

 

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