66% of US customers are likely to stop doing business with a company hit by a data breach

66% of US customers are likely to stop doing business with a company hit by a data breachA study commissioned by Centrify has found that 66% of adults in the US are likely to stop doing business with a company that has suffered a cyber breach.

And a fifth (21%) of US consumers say they are very likely to stop transacting with a business that has been hacked.

“When companies put customer data at risk they are really putting their entire business at risk”, says Bill Mann, chief product officer Centrify.

The people most likely to take their business elsewhere include those who have had their personal information compromised in a hack, those who are tech savvy, and those who are frequent online shoppers.

And while most adults accept hacking as inevitable, only 21% of US participants would have said it was ‘normal’. 41% believe that corporations are not taking enough responsibility.

It’s time for organizations to take full responsibility for cyber risks and implement effective measures

Cybersecurity should be a top board responsibility; organizations need to realise that cybersecurity is not just an IT issue, but an issue for the whole enterprise.

ISO 27001 is the international standard that sets out the requirements of an information security management system (ISMS) – a risk-based approach to information security that enables organizations of all sizes, sectors, and locations to mitigate the risks they face with appropriate controls.

Achieving certification to ISO 27001 demonstrates to customers, stakeholders, and staff that best-practice information security is being followed across the organization, providing a competitive advantage, along with reduced customer churn and increased revenues.

Certification to the ISO 27001 standard has seen a steady increase in the US over the past eight years: According to the latest ISO survey, 17% more organizations were registered to ISO 27001 in 2014 than in 2013.

ISO 27001 adoption in America

Arguing the case for ISO 27001

The Case for ISO 27001 (2013) Second EditionIf your organization is contemplating implementing ISO 27001, then take a look at The Case for ISO 27001, which presents a compelling business case for implementing ISO 27001 to protect your information assets. This makes it ideal reading for anyone unfamiliar with the many benefits of the Standard, and a useful supporting document for an ISO 27001 project proposal.