Indians seems to be most oblivious about the risks from cyber-attacks on systems at banks and financial institutions.
According to global survey by Capgemini’s Digital Transformation Institute, India recorded highest percentage point gap (50 per cent) indicating the extent by which customers’ perception falls
short of reality of cyber-attacks. This lack of consumer awareness can be partly explained by the fact that the concept of data privacy and protection is at a very nascent stage. Plus, there are no
guidelines on reporting of data breaches. France was at second place and the US had the lowest score, indicating much better awareness about cyber threats.
According to survey of more than 180 senior data privacy and security professionals— as well as 7,600 consumers, 78 per cent of consumers in India would switch bank in case of a data breach.
Out of the eight countries, Indians (89 per cent), are most willing to trade financial privacy in exchange of benefits or services, it said.