When it comes to user data during the Covid-19 pandemic, businesses that exhibit lax security are at risk of losing potentially half of their customers permanently. The information comes from a new report published by PCI Pal, that is designed to get a read on consumer feelings, as they endure a lockdown.
After polling more than 3,500 in Spain, Italy, UK, France, Germany, Australia, and Canada, PCI Pal found out that a third of the respondents will not hesitate to avoid a company for years if they find out that their data is exposed.
30% said that they would never return while one in ten said a data breach would impact how loyal they feel about a business. Consumers from different geographical locations react differently to the news of a data breach, the report shows.
Germans are most likely to never come back after a breach. Spaniards have only become wary about cybersecurity issues and breach threats throughout the Covid-19 pandemic.
According to Geoff Forsyth, who is the Chief Information Security Officer at PCI Pal, it is perfectly normal and good sense, to see an increase in the number of people who worry about cybersecurity. He chalks it up to the opportunistic way that cybercriminals operate.
He adds that cybercriminals lack shame when it comes to their opportunistic nature, and they aim to capitalize on the vulnerabilities presented by the work-from-home situation most people have been forced into.
Businesses must act
Because of this, he says businesses have to ensure they meet the highest compliance and security standards if they want to maintain their customer loyalty during the pandemic.
Recently, there have been attacks in the form of email phishing, assaults against hospitals, theft of Zoom credentials, and fake video conferencing tools that steal credentials and card information.