SAN FRANCISCO — A new study has revealed good news and bad news about the impact of card data breaches on consumers and cardholders.
Consumer Survey On Data Breach Notification, based on a survey of 400 victims of data breaches and conducted by Javelin Strategy and Research during May 2008, found that fully 40% of those surveyed said that the experience of a data breach changed their relationship with that institution or business.
It gets worse as well. An average of 55% victims reported trusting the affected organization less and 30% said they vowed never again to purchase goods or services from that organization or business.
On a more positive note, fully 55% reported being satisfied with the fraud protection solution they were offered after the breach, though a greater percentage preferred solutions which prevented future data breaches more than those which detect fraud after it occurs.
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