Only 13 percent of companies were found to be using Temporal Key Integrity Protocol (TKIP), an enhanced version of WEP.

"It all comes down to education. The report shows that the reliance on default configurations and outdated industry standards is leaving corporate networks wide open for attack," Morgan said.

Spectrotech plan to host a national road show early next year to re-educate CIOs and network administrators on the dangers of insecure networks. The vendor neutral consultancy group will provide live hacking demonstrations and offer security solutions from its partners.

(Additional reporting by Mitchell Bingemann.)