A 2015 report from the National CyberSecurity Alliance (NCSA) shows that data breaches that result in privacy lapses lead to significant brand damage.
The report covers the experiences of IT professionals who work at a company which experienced a data breach. 41% of those employees noted that “loss of customer loyalty” (e.g., brand damage) was the second most negative consequence of the breach.
This finding reflects previous research conducted by the Ponemon Institute and should help prioritize the efforts of device manufactures to promote good security and protect consumer privacy.
IoT Security Lab is a Data Privacy Day Champion.