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Trust In Brands Lost Due To Cybercrime, Report Says

MarkMonitor, the global leader in online brand protection conducted a report about consumer trust and cybercrime. According to the research, 16 percent of Dutch consumers lose confidence in a brand that is involved in cybercrime.

The report shows that 45 percent of the consumers in the Netherlands has already been a victim of cybercrime. Almost the third of the victims (31%) will express negative feelings towards the brands who were attacked by cybercriminals. 56 percent of the consumers believe these events will eventually damage the reputation of the hacked companies. 37 percent believe that confidence will be damaged in the brand, while almost half (49 percent) of them think that consumers in the future will no longer be involved with a brand that has been the victim of a cyber attack. The findings of the research emphasize the importance of a comprehensive brand protection strategy for companies.

“Cybercrime harms brands and increases in proportion to the growth in Internet usage, says Kevin Day, Regional Manager Nordics and Netherlands of MarkMonitor. “Businesses need a professionally developed plan of online brand protection to ensure that the client retains the trust and maintains the reputation of the brand. The research shows that consumers are aware of the impact of these attacks on the brands themselves, but despite this high level of awareness, consumers lose confidence in the affected brands. The sophistication of cyber criminals has increased. They are increasingly using underground sites such as the ones you can find on the Dark Web. It is, therefore, essential that brands look to keep protection at all levels and take into account all forms of threat in order to ensure that they can protect the brand and their customers are safe. ”

The study was part of a research conducted by Opinium, a leading market research firm. The company interviewed 3,457 consumers in the United Kingdom, the United States, Germany, France, Italy, Denmark, Spain, Sweden, and the Netherlands. The questions were about perceptions, attitudes, and experiences regarding online fraud, security and cybercrime. The survey was conducted online in August and September 2016.

The global report also shows the awareness of the dark web among the questioned consumers.

“Despite 37 percent of consumers stating they didn’t know what the Dark Web was used for, the rest of the sample displayed varying levels of understanding,” the report goes by. “Nearly half of the consumers in the study (49 percent) believe the Dark Web is used for criminals to sell illegal goods, stolen identities or personal information. In addition to that, a third (35 percent) believe it is to search for items not found on the mainstream Internet and over a fifth (22 percent) believe it is to protect privacy and anonymize browsing behavior. Of the respondents, 7 percent say they have used an anonymous browser, like Tor, to access the Dark Web, with this highest in France (11 percent) and amongst those aged 18-34 (17 percent). Of those that have accessed the Dark Web, over half (55 percent) did so out of curiosity, with 48 percent saying it was to anonymise their internet activity and 29 percent used it to purchase items.”

One comment

  1. Trust in brands is lost because of backdoors. Recently the UK legislated that every UK based manufacturer will have to officially embed backdoors.

    https://twitter.com/Snowden/status/807220051002671104

    So you can’t trust american manufacturers, you can’t trust british manufacturers, say hello to big brother if you use any raspberry pi or arm processor. So ARM processors were a way out of INTEL and AMD surveillance, but they got it and took care to include ARM and Pi in the backdoored manufacturer list.

    Now they say cybercrime hurts brandnames, surveillance hurt it far more. We have to look out to shady chinese manufacturers to protect our privacy from the big brands.

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