Consumers increasingly aware of online security risks, but hold businesses responsible for data breaches, finds Gemalto study
(Thomson Reuters ONE) -
* Only 30% of consumers believe companies are taking their personal data
protection very seriously
* 58% of consumers fear they will be victims of an online data breach
* 66% would be unlikely to do business with organizations responsible for
exposing financial and sensitive information
Amsterdam, Jan 17, 2017 - Gemalto, the world leader in digital security, today
released the findings of its 2016 Data Breaches and Customer Loyalty report,
revealing that consumers put responsibility for protecting their personal data
firmly at the hands of the organizations holding their data - and not
themselves.
According to the 9,000 consumers surveyed in Australia, Benelux, France,
Germany, Russia, UAE, Saudi Arabia, India, Japan, United Kingdom, and United
States, 70% of the responsibility for protecting and securing customer data lies
with companies and only 30% of the responsibility with themselves. Yet, less
than a third (29%) consumers believe companies are taking protection of their
personal data very seriously. This comes as consumers are becoming increasingly
fearful of their data being stolen, with 58% believing it will happen to them in
the future. More than 4.8 billion data records have been exposed since 2013 with
identity theft being the leading type of data breach accounting for 64% of all
data breaches[1].
Where consumers see most risk
Despite becoming more aware of the threats posed to them online, only one in ten
(11%) believe there are no apps or websites out there that pose the greatest
risk to them and consumers are not changing behavior as a result:
* 80% use social media, despite 59% believing these networks pose a great risk
* 87% use online or mobile banking, with 34% believing they leave them
vulnerable to cybercriminals
* Consumers are also more likely to shop online during busy commercial periods
such as Black Friday and Christmas (2% increase online versus -2% decrease
in store), despite 21% admitting the threat of cybercrime increases a lot
during these periods
Consumer attitudes on data breaches
Nearly six in ten (58%) consumers believe they will be a victim of a breach at
some point, and organizations need to be prepared for the loss of business such
incidents may cause. The majority of consumers who currently use the following,
say they would stop using a retailer (60%), bank (58%) or social media site
(56%) if it suffered a breach, while 66% say they would be unlikely to do
business with an organization that experienced a breach where their financial
and sensitive information was stolen.
How data breaches affect consumers
The study found that fraudulent use of financial information has affected 21% of
consumers, with others experiencing fraudulent use of their personal details
(15%) and identity theft (14%). More than a third (36%) of those who have been a
victim of a breach attribute this to a fraudulent website. Clicking a bad link
(34%) and phishing (33%) were the next highest methods consumers were caught by.
In keeping with the theme of putting the blame at the organization's hands, over
a quarter (27%) attributed the breach to a failure of the company's data
security solutions.
Lack of security measures influence consumer confidence
The lack of consumer confidence could be due to the lack of strong security
measures being implemented by businesses. Within online banking, passwords are
still the most common authentication methods - used by 84% for online and 82%
for mobile banking, and more advanced transaction security the next highest for
both (50% and 48% respectively). Solutions like two-factor authentication (43%
online and 42% mobile) and data encryption (31% online and 27% mobile) trail
behind.
Similar results can be seen in both the retail space, with only 25% of
respondents that use online retail accounts claiming two-factor authentication
is used on all their apps and websites, and in social media, with only 21% using
the authentication for all platforms. Only 16% of all respondents admitted to
having a complete understanding of what data encryption is and does.
"Consumers have clearly made the decision that they are prepared to take risks
when it comes to their security, but should anything go wrong they put the blame
with the business," said Jason Hart, CTO, Data Protection at Gemalto. "The
modern-day consumer is all about convenience and they expect businesses to
provide this, while also keeping their data safe. With the impending threats of
consumers taking legal action against companies, an education process is clearly
needed to show consumers the steps they are taking to protect their data.
Implementing and educating about advanced protocols like two-factor
authentication and encryption solutions, should show consumers that the
protection of their personal data is being taken very seriously."
Related Resources
* Download the full 2016 Data Breaches and Consumer Loyalty Report here
* Download the Infographic here and video infographic here
About Gemalto
Gemalto (Euronext NL0000400653 GTO) is the global leader in digital security,
with 2015 annual revenues of ?3.1 billion and customers in over 180 countries.
We bring trust to an increasingly connected world.
Our technologies and services enable businesses and governments to authenticate
identities and protect data so they stay safe and enable services in personal
devices, connected objects, the cloud and in between.
Gemalto's solutions are at the heart of modern life, from payment to enterprise
security and the internet of things. We authenticate people, transactions and
objects, encrypt data and create value for software - enabling our clients to
deliver secure digital services for billions of individuals and things.
Our 14,000+ employees operate out of 118 offices, 45 personalization and data
centers, and 27 research and software development centers located in 49
countries.
For more information visit www.gemalto.com or follow (at)gemalto on Twitter.
Gemalto media contacts:
Philippe Benitez Peggy Edoire Vivian Liang
North America Europe & CIS Greater China
+1 512 257 3869 +33 4 42 36 45 40 +86 1059373046
philippe.benitez(at)gemalto.com peggy.edoire(at)gemalto.com vivian.liang(at)gemalto.com
Ernesto Haikewitsch Kristel Teyras Shintaro Suzuki
Latin America Middle East & Africa Asia Pacific
+55 11 5105 9220 +33 1 55 01 57 89 +65 6317 8266
ernesto.haikewitsch(at)gemalto.com kristel.teyras(at)gemalto.com shintaro.suzuki(at)gemalto.com
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[1] According to Gemalto's H1 2016 Breach Level Index
Press release (PDF):
http://hugin.info/159293/R/2071319/778348.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gemalto via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 17.01.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 517852
Anzahl Zeichen: 8273
contact information:
Town:
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Kategorie:
Business News
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