47% Consumers Believe They Can’t Do Anything To Protect Against Cybercrimes: Research

New report suggests that as many as 47 per cent of Indian consumers believe that there is nothing they can do or use to protect themselves from cybercrimes.

The statistic came through in the research despite 36 per cent of Indian consumers reporting that they have seen a significant increase in cybercrimes over the past 12 months. 

The research also found that 41 per cent consumers in India have had their personal information stolen by cyber criminals. 

Interestingly enough, more than half of the people surveyed (53 per cent) believe they are very unlikely to be the victim of cybercrime, reports an ISACA study.

When it comes to companies, 40 per cent of consumers report having severed ties with a company known to have experienced a breach. Of the surveyed consumers, 23 percent are not confident a business can safely secure their personal identifiable information. 

In a statement, R.V Raghu, ISACA Ambassador in India and past ISACA board director, said “A strong cybersecurity workforce with cutting-edge skills in new technologies can help companies avoid cyber-crimes and ensure the safety of their consumer data, and as a result, build digital trust.”

Though more than half of respondents in India (59 per cent) are completely or very confident that businesses can secure consumers’ PII, the research indicates a significant number of consumers in India (78 per cent) would be more confident doing business with companies that hire certified cybersecurity professionals. 

Additionally, 74 per cent of consumers surveyed believe companies should be independently graded on data security practices and the scores shared with the public.