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Paris – (Business Wire)–New research from Thales shows a lack of consumer trust in protecting personal data across industries.This 2022 Thales Consumer Digital Trust Index: The Consumer Confidence in Data Security report, conducted by Opinium in partnership with the University of Warwick, found that social media companies (18%), governments (14%) and media and entertainment organisations (12%) have the lowest confidence consumers are protecting personal data The level of trust in security.
In contrast, the study found that banking and finance (42%), healthcare providers (37%) and consumer technology companies (32%) are the industries consumers trust most to protect their sensitive information. Based on a survey of more than 21,000 consumers around the world, the report highlights the responses of global citizens to data exposures—including individual behaviors and attitudes toward companies that have experienced data breaches, as well as their levels of trust in industries and governments across industries .
There are also significant differences in the level of trust among consumers across countries when it comes to personal data security. Consumers in Germany (23%), Australia, the UK and France (20%) are the least trusted countries when it comes to protecting personal data and digital services. In contrast, consumers in Brazil (95%), Mexico (92%) and the United Arab Emirates (91%) have the highest levels of trust. These trust differences between countries may be the result of data protection regulations such as the GDPR, which have created a wider perception of privacy rights and a lack of trust.
Consumers feel the impact
The report found that the vast majority (82%) of consumers globally reported that a data breach had negatively impacted their lives. Fraudulent use of their financial information (31%), fraudulent use of their personally identifiable information (PII) (25%), and custom scams based on their information (25%) were the main impacts. Interestingly, financial fraud was the highest reported in every country, with the only exceptions being:
Germany (PII Fraud: 31%)
Japan (identity theft: 30%)
United Kingdom (tailored scams: 25%)
consumers protect themselves
When it comes to protecting themselves, one in five consumers (21%) globally have stopped using a company that has suffered a data breach. In fact, one in 10 (8%) have taken legal action against a company, and a similar figure (9%) is considering this.
Additionally, banking and financial services are where the majority of consumers (69%) are likely to spend most of their time adding additional security measures to protect and secure the personal data they store. This is followed by securing email communications (54%), social media (48%) and online shopping or e-commerce (44%). Only one-third (33%) of consumers took the time to implement additional safety measures in healthcare, and only one-quarter (24%) in travel-related industries.
Carsten Maple, professor of network systems engineering at WMG and the University of Warwick, commented: “Data breaches are now so commonplace that it will be interesting and important to determine how consumers feel about the issue, which sectors they trust and what they think needs to be done. This report provides new insights into these issues, underscoring the need to protect The lack of trust in social media companies for consumer data is probably to be expected. However, there is also a strong distrust of governments protecting data. More importantly, it shows that a considerable number of those who have suffered breaches have taken clear action, including withdrawing from the service or taking legal action.”
Action speaks louder than words
When it comes to what organizations should do with data breaches, consumers around the world agree that better data security measures, such as encryption and user authentication protocols, should be implemented. More than half (54%) think it should be mandatory. This is followed by compensating victims (53%), hiring an expert to ensure it doesn’t happen again (46%), being responsible for finding victim data and returning it (43%), and following stricter regulations (42%).
Regulators are interested that consumers’ lowest priority for taking action against companies that have had data breaches is to subject them to hefty fines, with just over three in 10 (31%) believing they should.
Comments by Philippe Vallée, Executive Vice President Digital Identity and Security at Thales: “Consumers around the world have shown how important security is to them when it comes to digital services and their personal data. While many would argue that compensation will be a priority, the most important thing is the protection of systems and future users What’s more, almost twice as many consumers want to mitigate the risk of future data breaches by implementing better encryption and authentication protocols, rather than accepting hefty fines, indicating that they want to see in the security practices they use Really tangible change.
“It is clear that consumers are increasingly accepting that there are risks and rewards in their own cybersecurity; putting more time and focus on protecting the parts of their online lives that matter most to them. However, as data continues to become More valuable, it should just be a lesson for those in other industries to practice best practices and practice good cyber hygiene.”
About the Thales Consumer Digital Trust Index 2022
The 2022 Thales Consumer Digital Trust Index is based on a global Opinium survey of more than 21,000 consumers commissioned by Thales. Respondents came from 11 countries: Australia, Brazil, France, Germany, Hong Kong, Japan, Mexico, Singapore, United Arab Emirates, United Kingdom and United States.
About Thales
Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum technologies – to build a partnership A future of confidence that matters to our society. The Group provides solutions, services and products to clients – businesses, organisations and governments – in the defence, aerospace, aerospace, transportation and digital identity and security sectors that help them play a critical role role, with the individual as the driving force behind all decisions.
Thales has 81,000 employees in 68 countries. In 2021, the group achieved sales of 16.2 billion euros.
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