“Once bitten, twice shy” is the sentiment among many consumers when it comes to companies that were the subject to a data breach. A new report from the Internet Society finds that 59 percent of Internet users said they would not likely do business with a company that fell victim to a data hack.
“One of the key questions raised by this report is, why are organizations doing so little to protect their customers’ data?” said Michael Kende, economist and Internet Society fellow who authored the report, in a press release. “Everyone knows that data security is a major issue for both consumers and businesses, yet companies are not doing everything they could to prevent breaches.”
According to the Internet Society, the average cost of a data breach is now about $4 million, up 29 percent since 2013. What’s more, in 2015 there were a reported 1,673 breaches and 707 million exposed records. With that in mind, the Internet Society said it is urging companies to change their stance on cybersecurity and follow some key recommendations. For the full article click here
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