Survey: Data Breaches Send Customers Fleeing

Most adults accept hacking as inevitable.

By Tara Seals

We all know that data breaches can cost hundreds of thousands of dollars to remediate—but then there are those intangible costs too, such as brand damage. The effects of the bad publicity can be far-ranging: A study commissioned by Centrify found that 66% of adults in the US are at least somewhat likely to stop doing business with a company that has suffered a cyber-breach.

That number is even higher in the UK, where 75% said they are somewhat likely to stop doing business after a hack. And a fifth (21%) of US consumers say they are very likely to stop transacting with a business that has been hacked. The people most likely to take their business elsewhere include those who have had their personal information compromised in a hack, those who are tech savvy and those who are frequent online shoppers.

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