In today's increasingly digital world, data breaches have become a fact of life with new research from OpSec Security revealing that nearly half (48%) of global consumers expect to suffer a data breach (opens in new tab) at some point in the future while 30 percent have already fallen victim to one.
To compile its latest Consumer Barometer report (opens in new tab), the security firm surveyed 2,600 global consumers to find that 46 percent of data breach victims have been contacted by companies two to five times to inform them that their data was compromised while nine percent of respondents have been contacted more than five times.
Being contacted by companies about data breaches has led over half (55%) of consumers to believe that organizations aren't' doing enough to protect their data.
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SVP of OpSec Security and General Manager of OpSec Online, Bill Birnie explained how data breaches can weaken consumer trust in an organization in a press release (opens in new tab), saying:
“As many consumers now run much of their lives online following the impact of COVID-19, businesses must be more proactive about cybersecurity and online consumer protection than ever, with solutions in place to stop these threats in their tracks. Failing to do so can be extremely costly not only in terms of compliance with data management regulations, but also by customer loss. 28% of consumers who have lost trust in a company due to data breaches say they won’t shop with the brand again.”
Ahead of Black Friday (opens in new tab) and the 2020 holiday shopping season, consumers are likely to be more concerned than ever before about using their credit cards online according to OpSec Security.
The firm's research found that nearly half (47%) of consumers are concerned about using their credit card to make online purchases. These consumers are worried about the possibility of cybercriminals stealing their personal details (62%), scammers stealing their money (58%) and identity theft (opens in new tab) (57%).
OpSec's research also revealed that of the 40 percent of consumers affected by data theft, only nine percent of those who have fallen victim to phishing schemes (opens in new tab) have had any of their money returned.
In order to stay safe while shopping online, consumers should only buy goods from trusted sites and they should avoid any deals or offers which seem too good to be true as they probably are.
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