GEC NEWS WIREA recent study carried out by FireEye has revealed that data breaches significantly dent consumer trust in major brands.
With a number of high-profile breaches taking place on a global scale, the findings highlight rising concerns over the issue of cybersecurity and how public perception of a company is altered in the event of a breach, with 46% of consumers in the UAE stating that their view of a company subjected to an attack would be unfavourable.
Further insights from the study underscored the value of a sound cybersecurity strategy to consumers. 21% of respondents reported that data security was of utmost importance when purchasing from a company. 57% of respondents said they would stop purchasing from a compromised company and take legal action, while a mere 18% stated that they would continue to purchase from the company, but seek compensation through legal action.
Richard Turner, President for the EMEA region at FireEye said, “The findings from this survey reveal key lessons for boardroom executives who would be well-advised to take a much more proactive role in cybersecurity strategy. It’s also interesting to see that consumers are increasingly valuing attention to data security and base their purchasing decisions with this in mind. While companies have long viewed data security as a cost, it is now presenting an opportunity for them to attract a new and growing type of customer who wants assurance that their data is safe when dealing with companies.”
