CDSA

Why Data Security Should be Top of Every Retailer’s Shopping List (Security Intelligence)

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My recent shopping experiences demonstrate a growing trend: Consumers are becoming more security-savvy and realizing that their data is valuable and needs protection, particularly due to recent news headlines detailing high-profile data breaches and emerging cybercrime trends. This means that retailers, in particular, need to up their data security game, especially given the perception that these companies are less secure than organizations in other sectors.

According to IBM Security’s “Future of Identity Study,” only 19 percent of U.S. consumers, 23 percent of consumers in the European Union (EU) and 28 percent of consumers in Asia-Pacific (APAC) would trust a retail organization to protect their biometric data. A much larger portion of respondents — 42 percent, 44 percent and 57 percent in the U.S., EU and APAC, respectively — said they would trust financial institutions to properly house this data.