Sixty-nine percent of consumers feel businesses don't take customer data security very seriously and 70% of them said they would stop doing business with a company following a data breach.

Amsterdam-based digital-security firm Gemalto also revealed in report ""Data Breaches and Customer Loyalty 2017," customers expect businesses to protect personal data. The study based its findings on a survey of more than 10,000 consumers worldwide.

Surveyed consumers in 2017 are more likely (37%) to believe that they could be a victim of a breach at any time, compared to those surveyed in 2016 (35%) and 2015 (27%). In addition, 58% believe the threat to their personal information increases during a high profile commercial events like Black Friday, Amazon Prime Day or Cyber Monday, which experience a staggering $6.59 billion in estimated sales, the largest ever online sum for a U.S. shopping day.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).