"75% of Consumers Prepared to Ditch Brands Hit by Ransomware"

According to new research by Object First, 40% of consumers harbor skepticism regarding organizations’ data protection capabilities, and 75% would shift to alternate companies following a ransomware attack.  The company noted that consumers are requesting 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.  During the survey, the company found that 81% of consumers report feeling “very scared or worried” about their data being held by organizations lacking robust resilience against ransomware.  After an attack, 1 in 3 consumers demand evidence of resilient backup and recovery strategies, and 30% lose all confidence in the company’s data protection plan.  75% of consumers are ready to shift to a competitor should a company suffer a ransomware attack.  Moreover, a second ransomware attack causes 61% of consumers to reassess their negative perception of data protection and recovery practices.  The company noted that ransomware attacks impact generations differently.  While 37% of Gen Z prefers an apology from companies experiencing a ransomware attack, ranking 12% higher than monetary compensation, Baby Boomers are less forgiving.  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.

Help Net Security reports: "75% of Consumers Prepared to Ditch Brands Hit by Ransomware"