A survey commissioned by the ICO has shown that nearly 80% of people would think twice about or definitely not use services offered by an entity who had been subject to a data breach. The survey was commissioned for European Data Protection Day tomorrow (28th Jan) and for the Information Commissioner’s talk at the Advertising Association’s leadership summit.
Some 20% of people polled said they would stop using the services of an entity which had been subject to a data breach, with a further 57% who would think twice before doing so.
Whilst the focus has sometimes been on fines (with the fines in the UK presently up to £500,000, but to increase in 2 years time to a maximum of 4% of the organisation’s global turnover through new EU laws), the reputational damage of a data breach cannot be underestimated. Those same new EU laws will bring in mandatory data breach reporting as well – so it is certainly an opportune time to consider your approach to data management, security and breach response. The ICO’s article and more details of the survey are here.
Watch out for more guidance on the new laws!