UK consumers more likely to walk away from a breached company

News by Doug Olenick

Brits are far less forgiving than Americans of companies suffering a breach, with 41 percent saying they would stop frequenting that store brand forever. Only 21 percent of Americans felt the same way.

A study by the payment security firm PCI Pal comparing US and UK consumer reactions to companies who had suffered a breach found Brits are far less forgiving of the company, with 41 percent saying they would stop frequenting that store brand forever. Only 21 percent of Americans felt the same way.

That isn’t to say Americans ignore the impact of data breaches, however. Sixty-two percent said they would refrain from spending at a breached company for several months following an attack, compared to 44 percent of Britisher consumers.

The study also found a marked difference of opinion when it comes to what type of business is inherently more trustworthy with a consumer’s data. Fifty-five percent of those in the UK trust a small, local business more than a large national firm, with the belief that a smaller company would be more concerned about its reputation, would less likely be the target of an attack and do a better job protecting data in its possession.

However, those in the US had the exact opposite thought, with only 47 percent believing a local company is more trustworthy and 28 percent having a higher level of faith in a larger firm. Only 22 percent of in the UK felt the same way about larger companies.

This article was originally published on SC Media US.

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