In recognition of Cybersecurity Awareness Month, ISACA is calling on businesses to take better ownership of securing their customer data, and to build better digital trust with customers
Less than a quarter (23%) of UK consumers are confident that businesses can safely secure their personal identifiable information. That’s according to research by ISACA who this Cybersecurity Awareness Month is calling on businesses to take better ownership in securing their customer data – or risk facing a customer retention crisis.
The research reveals almost three quarters (71%) of UK consumers believe there has been a significant increase in cybercrime in 2021. Consumer confidence in business data protection is therefore low – as 43% of UK consumers think they could be the victim of cybercrime.
UK consumers are willing to explore doing business with other organisations in a bid to obtain grater security for their private information as 32% report having severed ties with a company known to have experienced a breach.
Chris Dimitriadis, Global Chief Strategy Officer at ISACA, says: “Trust is a key differentiator for businesses when it comes to acquiring and retaining customers, and we need novel approaches that combine cybersecurity with the adjacent domains of audit, risk, privacy and technology governance under a digital trust umbrella.”
When asked how companies could improve their digital trust, 70% of UK consumers believe that companies should be independently graded on data security practices and the scores shared with the public. In addition, 62% of UK consumers would be more confident doing business with companies that hire certified cybersecurity professionals.
Dimitriadis continues: “The potential loss of business, customer confidence and other associated impacts in case of cyberattacks clearly demonstrate the importance of investing in robust cybersecurity programs and in the creation of a stronger cybersecurity workforce.”
For a complimentary copy of ISACA’s consumer cybersecurity research report, visit www.isaca.org/cyber-month-2022.
During Cybersecurity Awareness Month, ISACA is providing a 20% discount on its Cybersecurity Fundamentals Online Review Course with the code PRODCYBERMONTH22.
ISACA will feature several cybersecurity sessions at ISACA Conference Europe, taking place 19-21 October 2022 in Rome.