Sixty-nine percent of consumers feel businesses don’t take customer data security very seriously and 70% of them said they would stop doing business with a company following a data breach.
“Consumers are evidently happy to relinquish the responsibility of protecting their data to a business, but are expecting it to be kept secure without any effort on their part,” Jason Hart, CTO, Identity and Data Protection at Gemalto, said. “In the face of upcoming data regulations such as GDPR, it’s now up to businesses to ensure they are forcing security protocols on their customers to keep data secure. It’s no longer enough to offer these solutions as an option. These protocols must be mandatory from the start – otherwise businesses will face not only financial consequences, but also potentially legal action from consumers.”
Hart continued, “It’s astonishing that consumers are now putting their own data at risk, by failing to use these measures, despite growing concerns around their security.” He added, the result is an alarming amount of breaches, 80%, caused by weak or previously stolen credentials. Something has to change soon on both the business and consumer sides or this is only going to get worse.”
To read the full article click here.