Fergie's Tech Blog

Millions dump companies that leaked personal info

Bob Sullivan writes for MSNBC:

Millions of consumers say they've dumped companies that leaked their confidential information last year, according to estimates based on a new survey. The results come after a brutal year for data security which has seen announcements from dozens of firms indicating personal data on some 60 million people have been stolen or accessed by criminals.

In a nationwide tally conducted by The Ponemon Institute, about 1 in 9 Americans indicated they've received notice from a firm revealing their personal information has been lost in the last 12 months — an estimated 23 million adults. About 40 percent of them almost missed the notice, believing the letter was either junk mail or a telemarketing call, according to the survey. But the most significant finding in the study, according to author Larry Ponemon, is the customer "churn" that resulted from the disclosures. About 1 in 5 of those surveyed said they had "discontinued" their relationship with the company involved. Another 40 percent said they were thinking about doing the same thing. The study had a margin of error of plus or minus 3 percent.

posted by Fergie @ 10/04/2005 12:45:00 PM