Social Media Companies Believed to Be Vulnerable, with 61% of Consumers Saying They Pose Greatest Risk for Exposing Data, Finds Gemalto
A majority of consumers are willing to walk away from businesses entirely if they suffer a data breach, with retailers most at risk, according research from Gemalto, the world leader in digital security. Two-thirds (66%) are unlikely to shop or do business with an organization that experiences a breach where their financial and sensitive information is stolen. Retailers (62%), banks (59%), and social media sites (58%) are the most at risk of suffering consequences with consumers prepared to use their feet.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181204005458/en/
Personal data protection (Photo: Gemalto)
Surveying 10,500 consumers globally, Gemalto found that, across all ages, 93% are placing the blame squarely on businesses and would think about acting against them. Social media sites worry consumers most, with 61% concerned companies in this space don’t adequately protect consumer data, followed by banking websites (40%).
Companies held responsible as consumers act
With the rising awareness of data protection and data privacy issues, consumers now believe the majority (70%) of responsibility for protecting their data rests on the company holding it. This has made data protection a major consideration for consumers when interacting with a brand, with 82% wanting organizations to have greater online security measures. These concerns are prompted by 91% believing that there are applications and websites they currently use which pose a risk to the protection and security of their personal identifiable information (PII).
Despite consumers placing the responsibility firmly in the hands of organizations, only a quarter feel as though companies take the protection and security of customer data very seriously. Taking matters into their own hands, consumers are not giving businesses anywhere to hide, as the majority of respondents have either already provided organizations with feedback on what security methods they are offering (35%), have considered it (19%) or might in the future (33%).
“Businesses have no choice but to improve their security if they want to address frustrated consumers that don’t believe the onus is on them to change their security habits,” says Jason Hart, CTO, Data Protection at Gemalto. “Social media sites in particular have a battle on their hands to restore faith in their security and show consumers they’re listening – failing to do so will spell disaster for the most flagrant offenders, as consumers take their business elsewhere.”
A troubled past and frustrated future for consumers
It’s unsurprising that consumers are frustrated with the state of data protection within organizations. A quarter of those surveyed have already been a victim of fraudulent use of their financial information (26%), 19% through fraudulent use of their PII, and 16% of identity (ID) theft. Worse, consumers have no faith that things are going to improve, as two-thirds (66%) are worried that at some point in the future their personal information will be stolen.
Even with the fear that they may become victims of a data breach, consumers aren’t planning to change their behaviour online as they believe responsibility lies with the companies holding their data. This could explain why over half (55%) of respondents continue to use the same password across different accounts.
In addition to switching brands, young people are more prepared to go further and participate in legal action against brands that lose their data than older generations. Nearly seven in 10 (67%) 18-24-year olds revealed they would take fraudsters and brands that suffered a breach to court, compared to just 45% for 65s and over, with a further 28% of generation z (18-24 year olds) at least considering it.
“This should be a wake-up call to businesses that consumer patience has run out. It’s clear they have little faith that organizations are taking their data protection seriously, or that their concerns will be heard, forcing them to take action themselves,” Hart continues. “As young people become the big spenders of the future, businesses are risking not only alienating their current and future revenue streams but also their reputation if they continue to give the impression that they don’t take data security seriously. Moving forward businesses must start doing the basics properly; protecting their most valuable asset, data, with the correct security controls.”
About Vanson Bourne
Vanson Bourne is an independent specialist in market research for the technology sector. Their reputation for robust and credible research-based analysis is founded upon rigorous research principles and their ability to seek the opinions of senior decision makers across technical and business functions, in all business sectors and all major markets. For more information, visit www.vansonbourne.com
Gemalto (Euronext NL0000400653 GTO) is the global leader in digital security, with 2017 annual revenues of €3 billion and customers in over 180 countries. We bring trust to an increasingly connected world.
From secure software to biometrics and encryption, 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 15,000 employees operate out of 114 offices, 40 personalization and data centers, and 35 research and software development centers located in 47 countries.
+1 512 257 3916
Europe Middle East & Africa
+33 4 42 36 57 38
+91 11 6623 1200
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Dawex Raises €5 Million to Accelerate the Development of the Data Economy23.5.2019 06:45:00 CEST | Pressemelding
Dawex, a leading data exchange technology company and the operator of the largest data marketplace, today announced a new round of funding of €5 million with Amadeus (AMS.MC), Itochu Corporation (ITOCY), Bouygues Construction (BOUY.PA) and a French web entrepreneur entering Dawex’s capital, also joined by the historical investor Caisse des Dépôts (via its Banque des Territoires). Total funds raised from inception tops €12 million, including the recent €2.5M grant from Horizon 2020, the biggest European Union Research & Innovation program. Dawex co-founders Fabrice Tocco and Laurent Lafaye remain majority shareholders, retaining full control over the company’s strategy and operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190522005927/en/ With the rise of Artificial Intelligence, Internet of Things, and the emergence of Smart Cities, among other disruptive trends like the autonomous cars, huge quantities of valuable
TTS Pharma Limited Announces Closing of £10.3 Million Fundraising and New Board Appointment23.5.2019 06:00:00 CEST | Pressemelding
COMPLETION OF SERIES B FUNDRAISE TTS Pharma Limited (“TTS Pharma” or the “Company”), a UK company which is a vertically integrated supply chain manager in the cultivation, manufacturing and development of the emerging ethical cannabis market, announces that it has successfully closed a private equity investment totalling £10.3 million, on the basis of a two-tranche investment. This investment will permit TTS Pharma to become one of the leading global suppliers in this fast-growing multibillion-dollar industry, by allowing it to expand its existing supply chain, develop its own facilities and further strengthen its academic and commercial partnerships. It also enables the Company to advance its diversified operations in the wellness, nutraceutical and pharmaceutical sectors. The ethical cannabis market is set to become a high growth, disruptive and innovative new segment in the life sciences field and TTS Pharma is ideally positioned to capture rapid value within this market. BOARD UPDA
Buy and Sell Globally: 2019 Yiwu Imported Commodities Fair Opens in “World’s Capital of Small Commodities”23.5.2019 04:46:00 CEST | Pressemelding
On May 23-26, China Yiwu Imported Commodities Fair 2019 opened at Yiwu International Expo Center in Eastern China’s Yiwu city – the world’s capital of small commodities. The Fair of this year provides 2,012 standard booths in five halls, namely Asia I, Asia II, Europe, America-Australia-Africa & Cross-border Trade & Zhenjiang-International Sister Cities Exchange, and Imported Sweets and Wines, with an exhibition area of over 50,000m2 . Among the nearly 1,000 exhibitors from 85 countries and regions, 170 are from 40 countries and regions along the “Belt and Road” to exhibit daily necessities, home supplies, handicrafts, foods and drinks. Echoing China International Import Expo (CIIE), a special area is reserved for over 20 CIIE companies to exhibit their quality products including Bosch Group (Germany), skin care brand Rilastil (Italy), and Alligga (Canada) specializing in health products for a complete and balanced lifestyle. In addition, a special area for international sister cities
Lenovo Achieves Record Revenue for FY18/19 Driven by Success of Intelligent Transformation Strategy and Strong Operational Performance23.5.2019 04:27:00 CEST | Pressemelding
Lenovo Group (HKSE: 0992) (PINK SHEETS: LNVGY) today announced strong results delivering on the company’s Intelligent Transformation strategy and highlighting its leadership across all segments. For the first time, the global company delivered full-year revenue exceeding US$50 billion, up 12.5% to a record-breaking US$51 billion. The significant increase in profitability includes full-year pre-tax income up four and a half times (459%) year-on-year at US$856 million and net income at US$597 million, up US$786 million from negative US$189 million last year. The full-year performance included a notably strong fourth quarter characterized by improving revenue and profit across all businesses. Revenue grew by 10% year-on-year and reached US$11.7 billion. Pre-tax income was US$180 million, up almost four times year-on-year (US$143 million, +389%) and net income was US$118 million (up US$85 million, +261%). Basic earnings per share for the full year were 5.01 US cents or 39.2 HK cents, and f
The 26th HKTDC Hong Kong Fashion Week for Spring/Summer Opens in July23.5.2019 01:44:00 CEST | Pressemelding
The 26 th HKTDC Hong Kong Fashion Week for Spring/Summer will curtain up at the Hong Kong Convention and Exhibition Centre from 8-11 July 2019. The four-day fair is expected to welcome some 1,000 exhibitors from across the globe, presenting a wide array of spring/summer clothing, designers’ collections, international brands, garment and fabrics, and fashion accessories. As a premier sourcing platform for global buyers, the Hong Kong Fashion Week is also a gateway to vivacious markets of Mainland China and Asia, making it one of the must-attend global events in the fashion industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190522005901/en/ (Photo: Business Wire) Click HERE to Register for Your Free e-Badge Themed zones return with splendour The fashion industry has always been fast-paced, and with the adoption of technology, it has the capacity to change even faster and varied in greater extent. The fair has been keepin
Navico Goes Live with o9 Solutions Premier AI-driven Platform22.5.2019 18:38:00 CEST | Pressemelding
Navico has become one of the top clients for o9 Solutions in the consumer electronics industry by going live on o9’s Premier AI Platform for Integrated Planning and Digital Operations. Navico and o9 share a vision for connecting the ecosystems of technology and enabling its customers to make smarter decisions, faster, and free up more human interaction time for high-value and high-enjoyment activities. Navico is focused on creating the “Smart Boat” ecosystem, providing integration and connectivity of recreational boats for ease of use and maximum enjoyment by owners. Similarly, o9 is focused on creating a “Connected Enterprise,” where all of an organization’s processes and operations are modeled in a single dynamic Enterprise Knowledge Graph, enabling transformationally faster decision-making and value creation by leveraging the latest generation of artificial intelligence solutions. In the 2019 Gartner Magic Quadrant for Sales and Operations Planning Systems of Differentiation, o9 Sol