A company’s data research report, with One Poll, has pointed to consumer trust in data security at a ten year low, with over one in ten suffering from a data loss. Only 9pc of consumers have any faith in organisations to protect their data, with nearly a third (29pc) recording a decline in trust over the last year.
David Robinson, Chief Security Officer, UK & Ireland, Fujitsu, said: “The results of our research showed consumer tolerance for data loss is at an all-time low. With consumers battling to understand the impact on their personal information if a company is hacked, there is no room for error anymore. To remain ahead of their competitors – and trusted in the eyes of the consumer – organisations need to ensure they are robust in their security. The effort required here is industrial, as companies are no longer fighting against individuals, but a sophisticated criminal industry, designed solely to access their data. We describe organisations in two groups, those who have been hacked, and those who will be, for no reason.”
Despite the technological evolution that has taken place over the last decade, allowing companies to personalise data and give a unique experience to each individual, consumers are more wary of data than ever. Consumer trust has fallen in every sector, it is claimed, public and private. Some seven in ten (69pc) said this decline in trust was solely down to a lack of trust in the organisations that hold their personal information. This decline has been particularly acute for the public sector; almost two thirds of consumers said that fears over Government’s ability to safeguard their information has contributed to an overall erosion of trust around data. Social media companies, in particular, felt the wrath of the consumer, with 31pc having ‘zero trust’ in the sector. Financial Services fared only marginally better, with only just over a third (36pc) trusting companies in the sector, a fall of 15pc over the decade.
Yet, despite consumer angst, there is a lack of ownership by the public towards it. Only 32pc of consumers recognise their own involvement in keeping their data secure. Instead, consumers blame individuals, with over a third expecting to see repercussions for the member of staff deemed responsible and almost one in ten holding the CEO personally responsible. And 20pc were saying they would inform the police of any data loss – seeing it a criminal offence.
Trust is being hampered by the fact that consumers are failing to see the results of the data they provide. This point came across throughout the survey, but none more so than when it came to the vertical sectors. Here it became apparent, with over a quarter of respondents believing that telecoms and utility companies use their data solely to extract more money from them. Only 15pc of consumers see any value from their data being used, with 63pc commenting that they do not want organisations to use their data to improve their experience. This was apparent in the financial services sector, where less than a quarter thought they were being served better thanks to the use of their data. In fact, nearly a quarter said their personal information was represented incorrectly on communications. This was an issue faced similarly by retailers. There, over a third received incorrect communication, with 40pc saying they still have an impersonal experience – despite their data being collected.
David Robinson, Chief Security Officer, UK & Ireland, Fujitsu, said: “Having your personal data stolen is like being mugged for your handbag. Nowadays we keep as much information in our online wallet, as we do in our purse. So it’s no surprise that consumers are beginning to wake up to the dangers that lax security can mean online. As our results show there is a desire for transparency, and a real need to showcase the benefits of data to the average shopper.”
For an infographic on the report –
Videos:
The full report alongside vertical papers, examining telecoms, utilities, financial services, retailers and the Government (local and central), can be downloaded –
For any further information, visit: http://www.fujitsu.com/uk/campaigns/secure-thinking/datageddon/index.html
