Consumers Pass Off Security Responsibility

A report from security firm Gemalto says that survey respondents believe that 70 percent of the responsibility for protecting and securing customer data lies with companies and only 30 percent with themselves.

Despite leaving the responsibility with the organization, only 29 percent of consumers believe companies are taking protection of their personal data "very" seriously, with 58 percent of respondents fearful of their data being stolen.

The says that more than 60 percent of respondents said they would stop using a retailer if it suffered a breach, while 58 percent and 56 percent would stop using a bank or social media site respectively if they fell victim. 66 percent said they would be unlikely to do business with an organization that experienced a breach where their financial and sensitive information was stolen.

87 percent of survey respondents said they use online banking, 80 percent have active social media accounts, and 79 percent have accounts used for online shopping.

"Most consumers are doing a range of activities online and it is likely that a number of companies are going to hold consumers' personal data," the report says. "Most consumers are aware of the risks that online accounts pose to their personal information, but are continuing to actively use them regardless."

89 percent of respondents believe that certain apps/websites are leaving their personal information exposed, 59 percent feel that social media apps/websites expose them to the greatest risk, and 34 percent feel that banking apps/websites leave them vulnerable, but the majority actively use them, the report notes.

Of those surveyed, 53 percent use the same password across some of their accounts, while 13 percent admitted to using the one password for everything.

When it comes to identity theft, 21 percent of respondents claim to have been the victim of fraudulent use of their financial information, while 15 percent said they have experienced fraudulent use of their Personal Identifiable Information (PII). Clicking on a fraudulent link was the cause of information theft for 34 percent of those who have fallen victim.

According to Gemalto, more than 4.8 billion data records have been exposed since 2013.

SIA's Take: If consumers have made the decision that they are prepared to take risks when it comes to their security, that's fine, but should anything go wrong, they will blame the business. Consumers want convenience, but they want their data safe. Education, as always, about keeping data safe, will continue to be important.