Tag: customer

Security breaches are the kiss of death for companies

wargames-hackerCustomers are walking away from companies who have experienced a data loss due to hacking, according to a new survey.

Data security outfit Gemalto said that more than 64 per cent of consumers surveyed worldwide say they are unlikely to shop or do business again with a company that had experienced a breach where financial information was stolen.

Almost half – 49 per cent – had the same opinion when it came to data breaches where personal information was stolen.

Gemalto surveyed 5,750 consumers in Australia, Brazil, France, Germany, Japan, United Kingdom and United States.

It found that 60 percent of consumers thought that threats to their personal information increases during the festive season, and nearly 20 percent believe that they are likely to be a victim of a breach during the holiday season.

Only a quarter of all respondents feel that companies take the protection and security of customer data very seriously. More than twice as many respondents feel that the responsibility of protecting and securing customer data falls on the company (69 percent) versus the customer (31 percent). Of the employed respondents, only around two fifths (38 percent) feel that their employer takes the protection and security of employee data seriously.

A third of respondents have already been affected by data breach in the past. Around 40 percent were though visiting a fraudulent website (42 percent), phishing attacks (40 percent) or clicking a fraudulent web link (37 percent).

The survey found that customers were getting increasingly impatient with breached companies.

Around a quarter who have been a victim of a data breach, either have, or would, consider taking legal action against the breached company involved in exposing their personal information. Almost half of respondents said they would take or would consider taking legal action against any of the parties involved in exposing their personal information.