Global survey reveals the reputational impact of data breaches
- Details
- Published: Friday, 11 December 2015 08:40
Nearly two-thirds (64 percent) of consumers worldwide say they are unlikely to shop or do business again with a company that had experienced a breach where financial information was stolen , and almost half (49 percent) had the same opinion when it came to data breaches where personal information was stolen. This is according to a recent global survey by Gemalto, entitled ‘Broken Trust: ‘Tis the Season to Be Wary’, which surveyed 5,750 consumers in Australia, Brazil, France, Germany, Japan, United Kingdom and United States.
Key findings
Six in ten people (59 percent) believe that threats to their personal information increases during the festive season, and two in ten (18 percent) believe that they are likely to be a victim of a breach during the holiday season.
Confidence in corporate data security is low
Only a quarter (25 percent) 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 very seriously.
Consumers have been hit hard before
The survey revealed that 31 percent of consumers have already been affected by a data breach in the past. Around four in ten state the most likely causes for being a victim of a breach are visiting a fraudulent website (42 percent), phishing attacks (40 percent) or clicking a fraudulent web link (37 percent). The emotional impact of data breaches has also created apprehensive feelings towards businesses with nearly one fifth (19 percent) feeling they are likely to be a victim of one within twelve months to three years.
Ninety percent of surveyed consumers feel that there are apps and websites that pose significant risks to the protection and security of their personal information. Fifty-five percent believe that social media sites expose them to the greatest risk, and around two in five consumers believe adult content and torrent apps/websites carry the greatest risk to the security of personal information.
Customers are getting increasingly impatient with breached companies
Around a quarter (23 percent) of respondents 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 (49 percent) of respondents said they would take or would consider taking legal action against any of the parties involved in exposing their personal information.
About the survey
Independent technology market research specialist Vanson Bourne was commissioned by Gemalto to undertake the research on which this report is based. 5,750 consumers were interviewed during October and November 2015. 1,500 interviews in the US, 500 in Brazil and 750 in each of the following countries: UK, Australia, Japan, France and Germany. To qualify for the study, consumers had to actively use online/mobile banking, social media accounts or online retail accounts.
