Report: 30 Percent of Consumers Wouldn’t do Business After Security Breach

Posted on May 5, 2014
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A new report indicates roughly 30 percent of consumers would abandon a business or organization after a security breach.

The report focuses on the financial, healthcare and retail industries, reflecting concern across the board.  Data was compiled through surveys conducted in October 2013 by Javelin Strategy and Research.

Respondents to the survey indicated they would be most distrustful of the retail industry after a security breach, with 33 percent saying they would not likely do business with the entity again.

Thirty percent of respondents indicated they would not return to a healthcare provider after a security breach, and 24 percent said they would no longer trust a financial institution.

“Today, regardless of whether they occur in the financial, healthcare, or retail industries, data breaches have an undeniable impact on a business’s image, and in turn, both the revenue and expense side of its bottom line,” the report’s conclusion states.

 

For information on how to assess possible IT security threats to your business or organization, contact the Citon IT security team:





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