Though data breaches are on the rise and threatening more Americans' private information, consumers don't appear worried about the business implications of a breach.
A new survey from the RAND Corp. finds approximately 105 million American adults have been had their information breached, and 64 million of them received notification their information was stolen. Of those notified of being breached, just 11 percent stopped doing business with that company.
What's more, the majority of consumers (77 percent) said they were "highly satisfied" with how the company responded to the breach, and 62 percent of consumers said they take advantage of companies offering free credit monitoring in the event of a breach.
"Our research shows the importance of legislation that requires companies to notify individuals when a breach occurs," Lillian Ablon, lead author and cybersecurity and emerging technologies researcher at RAND, told Science Daily. "Data breach notification laws empower consumers to take quick action to reduce risk and create incentives for companies to improve data security."
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