The IAPP has published its first Privacy and Consumer Trust Report, which surveyed 4,750 individuals in 19 countries. Its findings revealed 68% of consumers globally are either somewhat or very concerned about their online privacy. This concern directly impacts the level of trust they have in companies and public authorities to process their personal data. As a result, the perception of privacy or lack thereof can result in consumers deleting apps, withholding information and avoiding purchases when they feel their privacy is at risk. A further 80% said they would likely stop doing business with companies that have been the victim of a cyberattack. In response to questions about the positive steps companies could take, 64% said companies that provide clear information about their privacy policies enhance their trust the most.
The results support similar studies in 2022, such as Cisco's consumer privacy survey and WE Communications' Consumer trends report. Moreover, the findings refute the flawed argument that people say they care about privacy but then fail to protect it. Instead, as with The Myth of the Privacy Paradox, people can both value their privacy and fail to manage it effectively. A 15-year-old study by professors Aleecia M. McDonald and Lorrie Faith Cranor at Carnegie Mellon University suggested people would need to spend approximately 40 minutes a day reading privacy notices in order to get through them.
UPDATE 130423 - The IAPP has published an infographic highlighting the key findings from its first Privacy and Consumer Trust Report.
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