More than half of the UK fears their personal information has been compromised. New research from Experian found that 54 per cent of people believe they have been the target of fraudulent activity online – up from 39 per cent on last year’s figures. Experian’s third annual data breach preparedness survey revealed that over a third (36 per cent) of people had to change their password because they feared an online account had been hacked or accessed by someone else . Meanwhile 13 per cent had been told by a company they hold an account with or are employed by, that their personal details may have been lost or stolen whilst 13 per cent had one of their online accounts accessed or used fraudulently by someone else. Nine per cent of respondents had their personal details used to commit fraud and eight per cent had to shut down an online account because their account had been hacked. Most companies (78 per cent) say they have drawn up plans to react to a breach of their customer’s data, however the findings suggest more could be done to ensure people are kept informed and advised appropriately. 

Other findings

Experian’s research  also revealed that:  34 per cent of businesses don’t have customer notifications prepared;  43 per cent  don’t have legal cover, despite the financial implications of suffering a breach; 48 per cent  don’t have crisis and communications plans in place and  84 per cent don’t have forensic analysis – even though regulations coming into force in May next year means organisations may need to provide factual information about what has happened to those affected and regulators.

Accountable

People expect companies to take care of their personal data and will hold them accountable if that information is lost or stolen. Half (51 per cent) of those surveyed believe it’s the sole responsibility of a company to protect customer data from online theft, while just nine per cent think it is their own personal responsibility.

Vigilant 

Experian’s Jim Steven said: “People are more aware of fraudulent activity and ever so conscious of their personal information falling into the wrong hands. However, it’s not just down to businesses alone, we all have a responsibility to be vigilant and take measures to protect ourselves, online and offline. Simple actions such as using a different password for each of your accounts and enabling two-factor authentication adds an extra layer of security to your accounts.   He added that for businesses,'it’s clear organisations are waking up to the risks posed by data breaches and the effect it has on their customers. Most companies are now making plans for the worst case scenarios, but it seems many are neglecting fundamental parts of a data breach response and keeping people informed and reassured. A response plan which keeps customers informed and offers them help in protecting their online identity can help to mitigate the damage from a data breach.'

Data breach

If a company suffers a data breach, their customers expect them to offer support. More than a third (37 per cent) expect web monitoring, while 31 per cent would want credit report monitoring despite just 15 per cent of businesses planning to provide this. Businesses also need to prepare for an increased level of phone calls and emails from their customers in the days after a data breach. Two-thirds (65 per cent) of people said they would contact the company concerned if their details fell into the wrong hands, although 71per cent of businesses admitted they may not have the call centre capacity to handle it.