64% of consumers won't do biz with breached companies

Almost two-thirds (64 percent) of consumers across the globe are not likely to shop with a company that has experienced a data breach where financial information has been stolen. Nearly half (49 percent) feel the same way with companies that have undergone breaches where personal information has been stolen.

A new study from Gemalto surveyed 5,750 consumers in the UK, Australia, France, Germany, Japan, Brazil and the US. As more consumers head out to complete their holiday shopping, 59 percent believe that threats to their personal information grow during the holiday season. Eighteen percent believe that they are probable victims of a breach during this time of year.

The survey results revealed that 31 percent of respondents have been affected by a data breach in the past. Four out of 10 feel that they are victimised from visiting fraudulent websites, encountering a phishing attack and clicking on fraudulent web links.  Almost a quarter (23 percent) of consumers would consider taking a breached company to court that has exposed their personal and financial information.

Only 25 percent of consumers feel that companies take security of customer data very seriously. Sixty-nine percent of consumers feel it's the company's responsibility to protect and secure customer data while 31 percent feel it's the responsibility of the customer.

“The media coverage of massive data breaches has done little to instil consumers' confidence in how well companies, big and small, are protecting their data,” said Jason Hart, VP and CTO for data protection at Gemalto. “The fact that employees don't even feel that their employers are taking the protection of their personal data security very seriously rings alarm bells. Either companies need to increase their security measures or, assuming that they already have these in place, they need to communicate this to their customers.”