Security News > 2023 > July > 75% of consumers prepared to ditch brands hit by ransomware

As 40% of consumers harbor skepticism regarding organizations' data protection capabilities, 75% would shift to alternate companies following a ransomware attack, according to Object First.

Consumers request increased data protection from vendors, with 55% favoring companies with comprehensive data protection measures such as reliable backup and recovery, password protection, and identity and access management strategies.

"Given the indispensable role of data in today's world, it is no wonder consumers are seeking greater protection as organizations generate and consume more data than ever. With the escalating ransomware threat, data protection must be a core concern for every business. While preventing a ransomware attack is the ideal scenario, it is not always feasible," said David Bennett, CEO of Object First.

81% of consumers report feeling "Very scared or worried" about their data being held by organizations lacking robust resilience against ransomware.

A second ransomware attack causes 61% of consumers to reassess their negative perception of data protection and recovery practices.

74% of them agree their trust in the vendor is irreparably damaged after suffering more than one ransomware attack, compared to only 34% of Gen Z. Object First's research illuminates an alarming rise in consumer apprehension regarding companies' capability to safeguard their data against ransomware attacks.

News URL

https://www.helpnetsecurity.com/2023/07/05/consumers-data-protection-request/