Dixons Carphone Warehouse recently disclosed  that an extensive data breach was discovered in June 2018; however, the cyber-attack was thought to have taken place during the previous year.

It has been estimated that 10 million customers’ personal information including names, address and email addresses were accessed; however luckily, no bank details or fraud-related crime has been associated with the breach.  Hackers also gained access to 5.9million payment cards, yet luckily these were protected by chip and pin.

Dixons has apologised to its customers for this unfortunate cyber-crime and are currently anticipating to contact them over the coming months.  Alex Neill, from consumer lobby group Which? has stated that anyone who is concerned about the data breach or has noticed strange activity on their accounts should update their password and report the situation immediately.

UK’s trust on Data Breach is amongst the lowest in the world

The Dixons data breach exposure comes at a time when the “UK’s trust on business data handling processes is amongst the lowest in the world” according to a recent article published by TEISS – https://teiss.co.uk/news/uk-businesses-customer-data/

The article highlights the Digital Trust Survey and Index 2018 by CA Technologies stating that, “83 percent of UK consumers prefer security over convenience during the transaction authentication process”.  The report refers to the ‘lack of faith in companies’ who still fail to hold customer data with high regard. Unfortunately, businesses continue to assume that data breaches and cyber crime will not affect them; despite claiming substantial revenues, which could be re-invested into the protection of their customers, their business and the brand.

Companies are narrow-minded if they think a data breach won’t affect them. If data has been lost, then customers will look in fear, to move to other service providers for protection of their personal information and bank details. Without customers, brands will not survive and so it is imperative that businesses invest in cyber security to prevent the likelihood of a data breach occurring in the first place.

Is your business facing challenges in terms of a data breach? Here at Crendon Insurance we seek to protect companies who hold customer data and those who require regular data admittance through various methods of accessibility. To find out more, please see our cyber security page.

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