View all on-demand sessions from the Smart Security Summit here.
ThalesThe Thales Consumer Digital Trust Index 2022 shows that consumer confidence in the ability of online organizations to protect their data does not match reality.A third of consumers worldwide have been victims data breach companies that hold their personal data.
The report reveals the latest global data breach trends and their severe impact on consumer trust across industries, including the likelihood that consumers will continue to do business with organizations after an incident.
Are consumers too trusting?
Today, organizations no longer ask themselves if a data breach will happen, but when.However, despite the organization’s awareness of the current cyber security Landscape, the findings underscore that this awareness does not necessarily transfer to consumers.While 33% of consumers worldwide have Victim of data breach82% of consumers continue to trust online digital service providers to some extent to protect their personal data.
However, 82% of data breach victims feel their lives have been negatively affected.
Location affects consumer trust. The incidence of data breaches varies across the world. However, consumers in countries with lower non-compliance rates are not necessarily more trusting than consumers in countries with high non-compliance rates. The U.S. has one of the highest percentages of consumers who are victims of a data breach (48%). However, consumer trust in the US (80%) is higher than in regions with fewer breaches such as Germany, Australia and the UK.
Consumer trust in the security of their data also varies by industry. Confidence was highest in financials and healthcare (though still only 42% and 37%, respectively), and lowest in media/entertainment and government (12% and 14%, respectively).
Data breaches may not erode trust among consumers, but they are affecting how consumers view their role in data protection. Victims are more likely to take extra precautions to protect personal data.
Data breaches have also impacted consumers’ expectations of organizations, with 54 percent saying companies should be forced to adopt mandatory data protection controls, such as encryption and two-factor authentication, following a data breach. More than one in five consumers stopped using a company that experienced a data breach.
The Thales Consumer Digital Trust Index 2022 surveyed more than 21,000 adult consumers from 11 countries and five continents. The report was produced by Opinium in collaboration with the University of Warwick.
read full report from Thales.
VentureBeat’s mission is the digital town square where technology decision makers gain knowledge about transformative enterprise technologies and transactions. Discover our newsletter.