Consumers Blame Business for Breaches
Money matters are clearly uppermost in the minds of consumers worried about hackers. Credit cards and bank accounts were by far their top concern, according to Centrify's 2016 Consumer Trust research study, which surveyed 2,400 adults split evenly among the United States, the United Kingdom and Germany. Most of those surveyed see hacking as almost inevitable, but, even so, they hold businesses responsible for breaches. Part of the problem is that many companies aren't communicating with their customers about cyber-attacks: At least half of respondents in each country who were victims of a hack said they heard about the breach from the news or social media. Many said they would stop doing business with a company that was hacked. However, despite their fear of hacking, consumers don't change their passwords very often—in many cases, once a year or less frequently. Many in the survey group said they would be willing to spend 10 minutes or more tightening up security, with half or more citing a fingerprint ID as a security measure they would be comfortable with. "Weak passwords are the leading cause of data breaches," said Tom Kemp, CEO of Centrify. "Consumers need to have better password hygiene and transact with businesses that have next-level security, like multi-factor authentication, in order to protect their financial data."