| Individuals February 2, 2016

February 2, 2016

Living in an immaterial world: Brits fear losing personal data more than their physical belongings

By Lookout

We do virtually everything on our smartphones. From corporate work data to our health data to financial transactions to personal, private information -- these powerful little phones host it all. These days it’s less about the device itself and more about the data, the ‘what’s inside,’ that matters most to Brits. How do we handle the deluge of data that we’re creating?
In a recent survey by Ponemon Institute and Lookout, we found that Brits are wising up to the fact that as the valuable data on their devices increase, so too does the value for hackers. In other words, you don’t have to be Angela Merkel or Jennifer Lawrence to have your most sensitive information hacked.
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Nearly half (45 percent) of Brits report that the amount of confidential or sensitive information on their mobile device has increased substantially within the last 24 months. This will only continue to grow. And when you look at the types of data that people are accessing on their devices, company-related data on personal mobile devices ranks high: 56 percent of people access corporate emails, 55 percent access contact lists or directories and thirty percent access customer records.
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Now, it seems there’s less emphasis on the latest and greatest flashy new device, it’s more about what’s inside. Forty-one percent of Brits consider the digital photos and videos stored on their mobile devices “priceless” and report that they could never replace the content of their mobile devices (38 percent).
With all of this important and valuable data, fifty-two percent of individuals now worry about their devices being hacked or infected by malware. They’re more concerned about losing what’s in their mobile devices than what’s in their wallets, which makes sense when you think of all the financial transactions we now do via our mobile devices. It’s not just J. Law’s device that’s worth a bundle: in total, individuals value the data in their devices at £6,504. If the data on their devices is hacked, breached or compromised, this is of serious consequence to the individual.
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Despite the growing amount of lucrative data and consumers’ growing concern about getting hacked, almost half of Brits (47 percent) don’t see data protection features as important when purchasing a mobile device. Unless we start to safeguard our personal data as much as we do our physical belongings, we are liable to lose our priceless content and memories through a breach or hack. There’s a behavioural challenge that we see with people, where similar to insurance, they resist taking action to protect what’s valuable until it’s too late. It’s no different on mobile.
Research Methodology: Ponemon Institute surveyed 456 individuals located throughout the United Kingdom who self-reported they use smartphones and tablets for personal and/or business use. (January, 2016)

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