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Consumers more worried than ever about their data

More and more consumers no longer trust that social media platforms, government and businesses will keep their data safe online according to new research.

Digital identity expert Intercede commissioned Atomik Research to survey 2,000 16-35 year olds across the US and UK about their perceptions of current security measures and the level of importance they place on having their data protected.

Researchers found that many of these so-called "millennials" have lost trust in a range of organisations regarding the protection of their personal information online. The number of respondents describing their level of trust as "none" or "a little" are:

  • 61% for social media platforms;
  • 38% for retailers;
  • 22% for government;
  • 19% for financial institutions.

The findings show that millennials don't want the organisations they interact with to share their details unless specifically authorised to do so.

More than 80% of respondents said this was "very important" or "vital". However, 23% believe companies and governments will have access to the data whether access is granted or not.

"Major data breaches happen every week," said Lubna Dajani, a communications technology expert. "Millennials, along with the rest of the general public, have found the trust they put in government institutions and businesses to protect their digital identities are being shaken. If business and government leaders don't adopt better protocols now, millennials will soon rise up and demand it."

Previous research by Intercede showed that 54% of US and UK consumers believe the failure of businesses to implement better online security will result in public distrust of goods and services. And 32% said they would like to see more secure and convenient digital verification systems that don't require multiple complex passwords.

Richard Parris, CEO of Intercede, said: 

"Government and business need to step up to more effectively safeguard the private information of their constituents and customers online or risk eroding trust and further damage to their reputations."

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