The constant flow of data breaches, usually swept under the carpet when it comes to consumers through the promise of free credit monitoring or small amounts of compensation, have contributed to a wider understanding of our data and what it means for our information to be stolen.
Names, addresses, telephone numbers, Social Security numbers, and bank account information can be used for identity theft, social engineering attacks, and in some cases, financial theft.
As consumers become savvier and are forced to learn how to secure their accounts, they may also place more data protection responsibility on the shoulders of enterprise companies that demand their information.
On Thursday, IBM released the results of a new study into consumer understanding and expectations surrounding data protection which supports these theories.
The survey, conducted online by The Harris Poll in August, includes responses from 1,000 US adults over the age of 18 — over half of which said they either had been the victim of or knew someone whose data had been compromised due to cyberattackers.
In total, seven out of 10 consumers understood their information may not stay in the hands of an original company that requested it, and may, eventually, end up with other third-party organizations.
It does seem that discontent is brewing; or as IBM puts it, “consumers are flat-out dissatisfied with the way many businesses are handling their data.”
The majority of survey respondents — 84 percent — said they have lost “all control” over how their personal data is processed or used by the enterprise, and as this control has been handed over, two-thirds believe that companies should be doing more to protect their information from compromise.
Read the full article at ZD Net.