Research by professional services firm Deloitte has warned that almost three-quarters of consumers would reconsider using a company if it failed to keep their personal data safe.
Although the recently released report, entitiled 'Consumer data under attack: the growing threat of cyber crime' report primarily focuses on cyber-crime on consumers, the research reveals some interesting figures on consumers attitudes to data protection and warnings for all businesses handling data in any form.
"The volume and value of data available online means that consumers are now more exposed than ever before," said Simon Borwick, director in the cyber risk services team at Deloitte, comments.
"Consumer-facing businesses, particularly those that hold a lot of data, are particularly attractive targets for cyber criminals and fraudsters looking to profit from stealing personal information," he warned.
"Cyber security has moved beyond simply being an IT issue; it is now a business-wide risk which requires immediate attention at the highest level," he added.
As a business-wide risk, whole organisations need to play a part in protecting assets and customer’s information from not only cyber criminals but from data breaches in any form.
“Data breaches instantly create a lack of trust and damage reputations that have been built over years,” commented Jonathan Richardson, managing director at data security company, Russell Richardson. “The fact that almost three quarters of customers would consider using someone else following a data breach shows the importance consumers place on the protection of their information. It is not only data online that needs to be protected, businesses have masses of data held on documents, media and IT equipment that needs to be stored and destroyed properly. Simple precautions can be implemented for minimal cost that will help to build consumer’s trust, protect their data and defend hard earned reputations.”
For a free, no obligation data protection consultation from one of Russell Richardson’s data security experts, call 0800 294 6552.