Story image

SURVEY: 70% of customers would leave a business after a breach

26 Mar 2018

A recent study from Gemalto proves it’s not just data that is lost following a breach – you’ll lose most of your customers too.

Consumers are evidently happy to relinquish the responsibility of protecting their data to a business, but are expecting it to be kept secure with no effort on their part. And this mentality is due to be enforced further in the face of imminent data regulations like GDPR.

According to Gemalto’s survey of 10,000 consumers around the world, 70 percent would stop doing business with a company if it experienced a data breach.

Despite this (and what is no doubt causing headaches in IT security departments worldwide), the survey revealed consumers are failing to properly secure themselves, with 56 percent still using the same password for multiple accounts.

Even in the cases where businesses offer robust security solutions like two-factor authentication, 41 percent of consumers admit ignoring the technology. This may be because the majority believe the business holding their data is ultimately responsible for its security.

This combination is resulting in an alarming amount of breaches – 80 percent – being caused by weak or previously stolen credentials.

Gemalto says quite simply, something must change or this is only going to get worse.

The silver lining in Australia’s Government cloud strategy
Cloud has been a huge part of the ‘digital transformation’ conversation within Australian government during recent years.
Aerohive achieves ISO/IEC 27001 cloud platform certification
Aerohive is the first cloud-managed networking vendor recognized by a global standard for commitment to information security management systems.
Is Google’s Stadia feasible with today’s data centres?
To get a better idea of the sheer audacity behind Google’s latest move, we spoke to Unitas Global chief technical officer Grant Kirkwood.
Survey: IT pros nostalgic over on-prem data centre visibility
There are significant security and monitoring challenges faced by IT staff responsible for managing public and private cloud deployments.
61% of CIOs believe employees leak data maliciously
Egress conducted a survey to examine the root causes of employee-driven data breaches, their frequency, and impact.
VMware allures APJ channel veteran to take the reins
Balasingam will take on the role of vice president for VMware’s partner business in Asia Pacific and Japan (APJ).
Security top priority for Filipinos when choosing a bank - Unisys
Filipinos have greatest appetite in Asia Pacific to use biometrics to access banking services
Opinion: Modular data centers mitigate colocation construction risks
Schneider's Matthew Tavares believes modular data centers are key for colocation providers seeking a competitive advantage with rapid deployment.