A study by researchers at Indiana University found that nearly half of Wi-Fi networks are “horribly insecure” as they do not run any form of encryption. The results of the survey, which involved 2,500 access points in Indiana, were disclosed at the Workshop on the Economics of Information Security at the University of Cambridge early this week. The study also indicated that most of the secured networks utilize routers with pre-installed security settings. Security expert Bruce Schneier, however, believes that if devices are secured, then security of networks becomes irrelevant. University of Cambridge security expert Richard Clayton likewise slammed the argument that unsecured networks result in insecurity. Caspar Bowden, Microsoft’s chief privacy advisor for Europe, said security analysts are in agreement that an open Wi-Fi network has advantages but advised users to look beyond WEP encryption if they wish to secure networks.