GCC consumers hold companies responsible for data loss, says Gemalto

Survey shows consumers believe businesses are responsible for protecting their customer's data

Tags: Gemalto NV (www.gemalto.com/index.html)Saudi ArabiaUnited Arab Emirates
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GCC consumers hold companies responsible for data loss, says Gemalto Pavie: Companies must do more to convince consumers they are protecting their data.
By  Mark Sutton Published  January 17, 2017

Two-thirds of consumers in Saudi Arabia and the UAE believe that companies are responsible for protecting their customer data online, despite the fact that less than half believe those companies take the protection of personal data very seriously.

According to research by Gemalto, consumers believe that it is up to businesses to properly secure their customer's data, with 63% of Saudi respondents of and 66% of UAE respondents placing responsibility with the company.

Businesses that suffer loss of sensitive customer data through a breach can also expect to lose customers, with 39% of Saudi respondents and 48% of UAE respondents saying they would be very unlikely to do business with an organisation that had lost data.

Only 37% of Saudi customers and 46% of UAE customers believe that companies take data protection very seriously. Seventy-two percent of Saudi consumers and 56% of UAE ones believe that they will have their data stolen in future.

According to figures from Gemalto, the number of data breaches increased in the Middle East by 50% in the first half of 2016 from the six months prior, and while around two-thirds of consumers in both countries believe that social media networks pose a risk to the safety of their data, and one-third believe the same of mobile and online banking, these services are in use by 80% or more of survey respondents.

Gemalto said that companies need to implement more advanced security measures such as encryption and two-factor authentication, and also do more to educate customers on the security measures that they have in place.

"Consumers have clearly made the decision that they are prepared to take risks when it comes to their security, but should anything go wrong they put the blame with the business," said Sebastien Pavie, regional director, MEA, Identity and Data Protection, Gemalto.

"The modern-day consumer is all about convenience and they expect businesses to provide this, while also keeping their data safe. With the impending threats of consumers taking legal action against companies, an education process is clearly needed to show consumers the steps they are taking to protect their data. Implementing and educating about advanced protocols like two-factor authentication and encryption solutions, should show consumers that the protection of their personal data is being taken very seriously," concluded Pavie.

915 days ago
Engr. Muhammad Naeem Akhtar

Good stats and well presented. Actually the whole leakage starts when Payloads are sent through emails or USB and some machines get infected with Malware to transmit the data to NATORIOUS Servers who sell this information to different people.

One can only stop such thing if EDR technology with Big data is used to prevent to run any unauthorized Application or Payload or Malware. This technology protects you even if you send script in an email and that script downloads an application with a different extension and then run it.

Such was the case when Bangladesh lost its money through swift desktops. Similarly was the case when Best western lost Credit Card info from one of the booking station.

I have shared the above based on my experience of 14 years in information Security as Support Head.

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