Ponemon report highlights damaging effects of data breaches on customer trust as one in four admit to leaving a company following a security incident
UK consumers expect healthcare providers, banks and credit card companies to be responsible for safeguarding their personal information, and are prepared to walk away from a company that does not take reasonable steps to secure their privacy. According to a new Ponemon study launched today and commissioned by Centrify, the leader in securing hybrid enterprises through the power of identity services, 65 per cent of customers affected by one or more data breaches lost trust in that organisation and one in four (27 per cent) ended their relationship with a company.
However, according to the report – The Impact of Data Breaches on Reputation & Share Value: A Study of Marketers, IT Practitioners and Consumers in the UK – consumers have very different expectations when it comes to the protection of their personal information compared to the companies themselves.
More than three-quarters (79 per cent) believe organisations have an obligation to take reasonable steps to secure personal data, but only 64 per cent of marketers and 66 per cent of IT professionals agree with them. The majority of consumers (73 per cent) also believe companies should control who has access to their personal information, but less than half of marketers (46 per cent) and IT practitioners (44 per cent) believe this is an obligation for the business.
Healthcare providers trusted more than credit card companies, but utilities hit rock bottom