The changing attitude towards security
For the first time ever, reports now show that the public are finally starting to place security ahead of convenience.* This is good news for organizations that are both client-facing and hold sensitive data, as juggling the two juxtapositions has been a test in customer relations.
But what has it taken to get to this point? How dire has the situation had to become to force the public to finally take notice? Let’s take a look at exactly what has occurred in the last year to help shift this deeply entrenched attitude.
– Multiple massive data breaches reported throughout 2017 such as Equifax and Uber, each putting millions of people’s sensitive data at risk and gaining extensive and ongoing media exposure.
– Corporate phishing emails increased by 400%.*
– Every day nearly 5 million records either lost of stolen.*
– Over 15 million consumers lost $16 billion to identity fraud.*
– Less than 5% of cyber criminals are being prosecuted due to the legal complexities and a general lack of understanding by law enforcement.
With such large figures attached to each of these statistics, most people have now been a target, and many also know someone who has had their identity stolen. The attitude of “it will never happen to me” simply no longer applies, and most of us have ceased being in denial.
According to a recent IBM study, “users of both mobile and desktop are wide awake to what’s happening with each new high profile breach, and it’s made them change their priorities. Strong security and privacy are now at the forefront of the average user’s concerns, especially when it comes to banking, financial, online marketplaces, and their email accounts.”*
The same report also states that just 10 years ago very few consumers were concerned about security and found authentication to be more of a hassle than a priority.
Alongside the numerous new data protection regulations, the steep increase in date thefts, and this kindling of consumer awareness, organizations are left with all the motivation and none of the excuses. Data security is the new number one priority.