Data Breaches Change Consumer Habits

In the wake of what feels like a never-ending series of data breaches large and small, consumers are starting to modify where they shop, and how they pay.

The recently released National Consumer League’s Data Insecurity Report indicates that consumers more and more feel retailers are responsible for data breaches that leave their personal information compromised, reports Dark Reading. Further, they are voting with their feet and going to different stores.

The second study, Security Matters: Americans on EMV Chip Cards, notes that two thirds of Americans are more likely to pay in cash in the immediate aftermath of a major security breach after hearing it reported on Sponsor video, mouse over for sound.

Recent breaches have also lowered confidence in retailers, nearly 60 percent of fraud victims said their trust in retailers has significantly decreased after their data was compromised.  On around 10 percent believe retailers can or will keep their data safe.  Financial Institutions did somewhat better:  according to the source, the second study that even in the aftermath of the breaches, consumers were around 70 percent confident in the security of their banking institution.

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