Wednesday, 8 June 2016

Banks’ cybersecurity held in high regard by consumers

Banks have been named as one of the best sectors for dealing with hacking incidents in a new study, involving 2,400 people across the UK, Germany and US. Conducted by Centrify, the survey examines consumer attitudes towards hacking and their tolerance levels towards businesses that they use being hacked. Just under three-quarters of UKs admitted that it has becoming “normal” or “expected” for businesses to be regularly hacked. Half of the same number also believe that firms aren’t taking enough responsibility for the security of their customers.

Financial institutions have the best reputation when it comes to dealing with breaches in security, according to the survey results. Banks top the list of seven different sectors asked to be analysed by the respondents. That trust should be good news for banks across the UK, as 75% of those surveyed in the country said that they would stop doing business with an organisation if it had been hacked.

“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. “We would say that it is a very clear call to action to those businesses to sort out their processes and do everything they can to protect confidential customer information. For the full article click here 



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