Consumers Hold Companies and CSOs Liable for Data Loss
If you’re not convinced of the impact data breaches have on business success yet, be aware that 51 percent of consumers will take their business elsewhere after their retailer, bank or service provider suffers a breach that compromises personal information, including addresses, Social Security numbers and credit card details, according to a HyTrust Inc. poll. For retailers focusing on the powerful 35-44 age range demographic, that number jumps to 60.2 percent.
More than 45 percent of respondents said that companies involved should be considered “criminally negligent” the moment a breach occurs. Only 12 percent would wait to blame the company until more than one incident occurs. A majority believes that all officers of a company should be held responsible, but younger consumers identify CSOs as the most responsible.
The poll shows that consumers consider Social Security numbers the worst piece of information to be compromised, especially with respondents in higher salary ranges.