The Weekly Breach Breakdown: Faith, Trust & Pixie Dust – Survey Shows Consumers Are Concerned About Data Privacy Issues

• Canadian financial services firm ATB recently asked 1,000 North American customers whether or not they could trust the technology ingrained in their lives. Responses show they are concerned about an array of data privacy issues.
• Sixty-two (62) percent of the respondents were concerned about their data’s safety. Only nine (9) percent felt they had enough information about data privacy.
• Consumers want businesses that will respect their privacy. Sixty-three (63) percent of respondents said they are inclined to switch to businesses that respect their privacy.
• On January 25, the Identity Theft Resource Center (ITRC) will release its 17^th annual Data Breach Report at a public policy conference. You can register to attend virtually at idtheftcenter.org/events or download the report at www.idtheftcenter.org/publications.
• To learn about data compromises, consumers and businesses should visit the ITRC’s improved data breach tracking tool, notified.
• If you believe you are the victim of an identity crime, contact the ITRC. Call toll-free at 888.400.5530 or live-chat on the company website idtheftcenter.org.

Faith, Trust & Pixie Dust

Welcome to the Identity Theft Resource Center’s (ITRC) Weekly Breach Breakdown for January 20, 2023. Each week, we look at the most recent events and trends related to data security and privacy. This week’s episode takes its title from J.M. Barrie, author of Peter Pan: “All the world is made of faith, and trust, and pixie dust.” We discuss concerns around data privacy issues right on the heels of Data Privacy Week.

The title is important this week as a series of cyberattacks and data breaches at highly recognizable brands are leading consumers, business leaders and government officials to ask the same question: Can we trust the technology that is so ingrained in our lives?

Concerns Around Data Privacy Issues are Increasing Amongst Consumers

Canadian financial services firm ATB has helpfully asked 1,000 North American consumers that very question with some not-very surprising answers:

• Sixty-two (62) percent of respondents were concerned about their data’s safety, while only nine (9) percent strongly felt they had enough information about data privacy.
• Sixty-nine (69) percent wish tech companies would better explain how their technologies use consumer data and how their business makes money.
• Sixty-seven (67) percent believe they should be compensated for the use of their personal information.
• Fifty-eight (58) percent of North Americans don’t believe many companies have their best interest in mind regarding personal data use.

Consumers Want to Use Businesses that Respect Their Privacy

As five state data privacy and protection laws are now or soon will go into effect – and more state legislatures take on similar legislation this year, it’s a good time for business leaders and lawmakers alike to pay attention to one very significant data privacy issue finding about consumer trust.

• Sixty-three (63) percent are inclined to switch to businesses that respect their privacy.

No pixie dust required.

ITRC to Release 2022 Annual Data Breach Report

Next week, the ITRC will present our annual Data Breach Report at a public policy conference we’re co-hosting in Washington, D.C., with the Better Identity Coalition. You can register to attend virtually at our website www.idtheftcenter.org/events, or you can listen to next week’s episode of our sister podcast, the Fraudian Slip.

ITRC to Participate in Identity Theft Awareness Week

January 30 starts Identity Theft Awareness Week. The ITRC is, once again, partnering with the Federal Trade Commission (FTC) to present a webinar and daily editions of our Fraudian Slip podcast – featuring college students around the country asking questions relevant to them. Be sure to join us for those special podcasts. To learn more, click here.

Contact the ITRC

If you want to know more about how to protect your personal information or if you think you have been the victim of an identity crime, you can speak with an expert ITRC advisor on the phone, chat live on the web, or exchange emails during our normal business hours (Monday-Friday, 6 a.m.-5 p.m. PST). Just visit www.idtheftcenter.org to get started.

We will be back in three weeks with another episode of the Weekly Breach Breakdown.