The study amongst 130 workers at London's Canary Wharf found that 42% of respondents estimate the penalties for data breach were less than £10 000 – 50 times less than the new maximum penalty of half a million pounds from the Information Commissioner's Office.
According to the secure USB flash drive specialist, 18% of respondents said they had lost a portable device within the last three years.
Blockmaster says that this will undoubtedly continue to grow, with over half of respondents (59%) to the survey admitting to a careless attitude to corporate devices, whilst their personal technology is valued a lot more.
Anders Pettersson, the firm's chief security officer, said that it isn't that surprising that employees were unaware of the implementation of the ICO data fines.
"However, it is shocking to learn that employees only consider there to be a cost involved in replacing a physical device, such as a laptop or USB drive", he said.
"Data itself is far more valuable than the cost of a physical device, and whilst employees can take personal steps to avoid losing devices, organisations should also consider using technology to eliminate the threat in the first place", he added.
Other findings from the research included that 61% of respondents value personal items such as mobile phones over portable work devices solely because of the financial cost if lost.
According to Pettersson, the industry needs to get the message across to organisations and employees that data is more than just a file stored on a device, it has a monetary value and could seriously harm an organisation if it got into the wrong hands.
"The ICO fines will bring this front of mind; however it won't educate users on best practice and the ways to ensure data is safe", he said.
"Only once organisations are aware of the total cost of losing data or have suffered a breach will they be willing to seek advice on how to protect themselves. This is an attitude we are trying to change with the USB evolution", he added.
Blockmaster says that it will be exhibiting at the Infosecurity Europe show in London next week and is offering stand attendees the chance to exchange their insecure standard USB drive for a free SafeStick secure unit on its booth – stand J80.