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Most consumers don’t trust brands to protect their data

Despite all the effort and funds spent by organizations on cybersecurity, a majority of consumers don’t trust brands to protect their personal data. In fact, that is the view of 68 percent of consumers surveyed for the recent “2017 State of Consumer Privacy and Trust” study by Gigya.

A similar number (69 percent) worries about security and privacy risks posed by the increasing adoption of Internet of Things devices, including fitness trackers, smart watches and connected cars.

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Girl pays to shop using mobile phone. NFC - Near field Communication. Mobile payment.

The study polled more than 4,000 consumers on their views of personal data privacy and security. “For brands, the findings highlight an impending crisis as they balance customer expectations and new privacy requirements with their need for customer data to deliver a more personalized online experience,” the study noted.

Of special note is the pending General Data Protection Regulation (GDPR), which goes into effect in May, 2018. Once GDPR becomes law, “brands will then face new hurdles in presenting and protecting their European customers’ data.”

Among the other findings of the study:

  • 67 percent of consumers believe that data security policies are not improving; with 31 percent saying they are getting weaker and 36 percent saying they are staying the same.
  • 63 percent of consumers believe that protecting their own data privacy is primarily their responsibility rather than that of brands or government administrators.
  • 62 percent take direct action to better protect their data security when a brand is breached by changing their passwords, while 32 percent added a second factor of authentication, and another 18 percent closed their account entirely.
  • 58 percent believe that the Trump administration will impact the security of their personal data, with 32 percent saying it will increase security and 26 percent saying it will decrease security.
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