Consumer cyber-security concerns cost UK economy billions, study

UK consumers put their money where the security is as a recent study found 36 percent of them are more reluctant to use apps out of security concerns and their actions have cost the UK economy nearly $2.8 billion (£2.2 bil) this year alone.

A recent study conducted by Rackspace found that 33 percent stated that privacy concerns were a huge issue and 26 percent said a failure in the app prevented them from doing something important, according to ITProPortal.

“Our research shows that security and reliability are the biggest concerns for consumers when using online services,” Rackspace UK Managing Director Darren Norfolk told the publication.

He went on to say that these issues boil down to having a robust and scalable infrastructure in place which includes access to expertise on how to run the infrastructure and planning for traffic peaks. 

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