50% of UK consumers won't work with a company that has been hacked

News by Danielle Correa

New research from F5 Networks reveals that Brits have a conflicting view on cyber-crime.

Half of UK consumers would not share data with, or purchase products from a company that they know has been hacked in the past.


New research from F5 Networks reveals that Brits have a conflicting view on cyber-crime as one in 10 UK consumers view hackers as ‘the good guys'. The figure doubles amongst French consumers (19 percent) and 14 percent of Germans view hackers as positive figures.


More than 3,000 adults from the UK, France and Germany contributed as respondents to the study.


Nearly a year ago, a global study from Gemalto revealed that 49 percent of consumers were not likely to shop with a company that had undergone a data breach where personal information had been stolen.


Financial gain is viewed as the main motivation for hackers (66 percent), followed by disruptive political or religious aims (nine percent) and entertainment (seven percent). Meanwhile, 72 percent feel hackers are getting more sophisticated.


Eight percent of UK consumers have not changed their passwords after the organisation where they have an account has been hacked, thus exposing themselves to cyber-criminals. Over a third (35 percent) of respondents claim they do not have an account with a firm that has been hacked.


Nearly two-thirds (61 percent) of UK consumers believe companies are not doing enough to protect themselves and their customers against hackers, compared to France (49 percent) and Germany (46 percent).


All countries thought the best way for businesses to improve their security is to “invest more in security” with better “educating consumers about threats” coming in second and firms working together to “pool knowledge” third.


“Consumers increasingly feel it is the responsibility of businesses to lead the fight against hackers and ensure they are protecting their customers. While consumers have to improve their digital behaviour with stricter security mind-set, still the responsibility of protecting data resides with the business at hand,” says Gad Elkin, security director EMEA at F5 Networks.


“Most worryingly for companies, customers across Europe are clearly willing to vote with their feet when it comes to cyber-security, and choose competitors with a clean hacking history. Businesses must take heed and improve both their own defences and how they educate customers about cyber-risks. Get it right and companies will build valuable loyalty with consumers, get it wrong and the effect will likely be felt in the bottom line.”

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