Proof that reputational damage caused by a data breach far outweighs any potential fine has proved apposite for eBay after a study revealed 49% of UK users have become wary of the site following its hack attack.
The research, which was conducted by YouGov for Clearswift, also found that 33% of eBay users have already changed their passwords, with 52% intending to do so soon.
eBay has already been blasted by the Information Commissioner’s Office for its slow reaction to the breach, after it emerged the hack attack had taken place as far back as February.
While the database included eBay customers’ name, encrypted password, email address, home address, date of birth and phone number, it did not contain any financial information and there is no evidence that the PayPal money transfer service has been accessed.
Last week, Commissioner Christopher Graham told BBC 5 Live’s Breakfast programme that the damage to brand image is “the real hit” businesses should fear if customers’ information is compromised following a data breach. His office has the power to issue fines of up to £500,000.
Marketers shoulder hacking costs
Cyber gang banged up for 30 years
Gang held in Santander hack scam
Only 2% of cops can fight e-crime
Cops ‘don’t care about cyber-crime’
Staffer held over Morrisons breach
Hackers ‘get ugly’ with mega attack
Adobe data attack ‘may hit billions’
Top US stars hit by D&B breach
Foxtons hit by online hack attack
Hacking staff could wind up firm
58m rocked by Ubisoft hack attack