Majority of Irish hold businesses responsible for cyber risks

Half of consumers would abandon a company over major data breach...

Over 75% of Irish consumers feel that businesses should be held responsible for protecting their customers' information online, according to a new study.

The Deloitte report has found that the Irish place great importance on the security of their personal data and do not trust businesses to protect them.

When it came to the collection and processing of personal details or financial transactions online, 74% expected companies to keep the data secure from criminals.

Some 73% expected these companies to refrain from sharing this data with third parties, unless permission was expressly requested.

Further ID authorisation measures would be preferred by 69%, while 65% of consumers often think about the safety of my personal information online.

In the event of a cyber attack, consumer confidence in the business in question definitely takes a hit.

Five in 10 of those surveyed said they would no longer shop online or even instore with a particular company if there was a data breach concerning their bank details.

Deloitte said of the October 2015 survey, which involved 1,000 people:

"The research also shows that consumers do not understand how to control the level of data available about them online and are distrustful of how businesses use their personal information.

"Consumers want more control over how their data is secured and would like businesses to provide them with more and better tools to protect their privacy online.

"To address the trust gap, businesses need to become more transparent with their data protection processes, educating consumers about how their data is used and explaining the benefits of allowing data to be shared".

Confidence regarding commerce through smartphones has plenty of room for improvement – only three out of every 10 consumers believe their mobile device is as secure as their laptop.