Cybersecurity can reassure consumers in an era of data anxiety

Cybersecurity can reassure consumers in an era of data anxiety

Posted May 4, 2021

Cybersecurity can reassure consumers in an era of data anxiety

  • Although increasingly stringent consumer privacy and security laws are becoming the norm, companies should always be ahead of these changes when it comes to cybersecurity. They need to be transparent about how they collect and use consumer data, clear about their cybersecurity policies and protocols in the event of an attack, and most importantly, committed to educating employees on how to keep themselves, the company, and customers safe.
  • According to a 2021 PwC survey, 55 percent of companies say they’re planning to increase their cybersecurity budget and 72 percent say they’re capable of strengthening their cybersecurity platform while containing costs. One of the most cost-effective ways companies can become more secure is through employee education.
  • Cybersecurity (or a lack thereof) has drastic implications for consumer behavior – 85 percent of consumers say they won’t do business with a company if they have concerns about its security practices, while 81 percent will stop engaging with a brand online after a data breach.
  • An educated workforce is the most powerful element of any successful cybersecurity platform. The vast majority of cyberattacks rely on the manipulation of human beings – from phishing emails that convince employees to click on a corrupt link or download malware to business email compromise (BEC) schemes in which threat actors impersonate company leaders to coerce people into disclosing sensitive information.

– Zack Shuler | May 4, 2021