Data breaches are costing businesses valuable customers

ITProPortal | November 09, 2018

Data breaches are costing businesses valuable customers
Companies that suffer a data breach can expect their customers to abandon them. They can also expect new customers to think twice before registering for a service or giving away any kind of personal or private data. This is according to Ping Identity, whose latest report says consumers are making ‘drastic changes’ to how they interact with brands online, and how they safeguard their personal data after a breach. Based on a poll of 3,000 people in the UK, US, France and Germany, the report says many would stop engaging with a brand after a data breach, while others wouldn’t even sign up. Half have changed the way they secure data, and are more concerned today than they were a year ago. “The findings from our 2018 survey reveal the extent to which consumers value security and rely on the brands they interact with to provide a layer of protection when it comes to their identity and personal information,” said Sarah Squire, CTO Office at Ping Identity.

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