Despite the rising number of data breaches and nearly 1.4 billion data records being lost or stolen in 2016, a majority of IT professionals still think perimeter security is effective at keeping unauthorized users out of their networks, according to a new report by research firm Vanson Bourne that was sponsored by security technology provider Gemalto.

Companies are under-investing in technology that adequately protects their business, the study said. The report is based on a survey of 1,050 IT decision makers worldwide, and found that 94 percent think perimeter security is quite effective at keeping unauthorized users out of their organization’s network.

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