A new survey finds 85% of consumers won’t do business with a company if they’re concerned about their data practices. Freight customers probably feel the same way.
The news that FedEx stored the identifications of thousands of customers on an unsecured “legacy server” is yet another reminder of how data security isn’t as tight as it needs to be in a world full of cyber criminals and hackers – folks all too ready to take malicious advantage of such information.
And consumers are definitely worried about such exposure (although few are taking steps to protect themselves) and that’s beginning to affect who they do business with.
According to the Global State of Information Security Survey compiled by Kirke Management Consulting, some 85% of consumers polled openly admit they won’t do business with a company if they have concerns about its data practices.
Yet only 45% of organizations report to owning a structured plan to ensure data compliance, the firm found. This, coupled with current industry trends, means it could be a tumultuous year ahead for businesses that do not invest, or begin to invest, in a data privacy and security framework. It could expose organizations to risks such as staggering financial fines, regulatory penalties and loss of customers, according to Ale Brown, Kirke’s founder and principal consultant... To Continue Reading, CLICK HERE