People would stop doing business with a hacked company

Out of 2,400 adults in the UK, Germany and the US, 75 per cent would stop doing business with a company that was hacked, while the rest would, consequently, keep on going.

Those are the results of a poll done by enterprise identity protection company Centrify.

Reporting on the findings, Centrify draws two conclusions: First one is that the 75 per cent portion, those that would stop doing business, is a clear 'call to action' for all companies, to take their cyber-security very, very seriously.

“If three-quarters of customers are prepared to walk away from a business if it has been compromised, then what kind of message is this sending to those organisations?” says Bill Mann, Chief Product Officer at Centrify. “When companies put customer data at risk they are really putting their entire business at risk. People simply will not tolerate doing business with potentially risky organisations, so it’s time for them to take full responsibility for their security and put the proper measures in place once and for all.”

The second conclusion is drawn out of the remaining 25 per cent, saying there are still people out there that do not understand the potential risks of being hacked.

The report also says 73 per cent of people in the UK expect businesses to be hacked, considering it almost to be ‘normal’. Still, only half feel the companies are doing all they can to protect customer data.

Financial institutions have the best reputation when it comes to handling private data, while membership and hospitality businesses are ranked lowest, just under retailer and travel sites.

Image source: Shutterstock/scyther5