Good data security can help to retain customers

A survey has revealed that data security is taken so seriously that almost two-thirds of customers would not deal with a company again if there had been a data breach.

The survey of 5,750 consumers in the UK, US, France, Germany, Brazil, Australia and Japan found that 64% of the respondents would be unlikely do business with a company that had suffered a breach that led to the loss of financial data; meanwhile, 49% would be unlikely to deal with a company if their personal information had been breached.

The survey also revealed that 75% of those who took part feel that data security is not seen as a serious issue for companies, with 69% feeling that their employers also have a lax view on data security.

The researchers believe that the vast media coverage of recent high-profile data breaches has destroyed consumer confidence in the way in which companies protect their data; however, experts believe that some companies are simply failing to make customers and employees aware of the steps they have taken to protect data.

Almost one-third of those who took part in the survey have already been hit by a breach in data security, while 16% think they will be the victim of a breach within the next year.

Experts have pointed out that there is no reason for data to be breached, as encryption is becoming very easy to put into place.