Do your customers trust you? Do you know if they do? Trust has become a big concern, not only for consumers, but also for regulators and the CFPB in particular. Lack of trust will not only hurt your brand, but it comes with increasing regulatory risk, too.
70% of consumers say they want visible signs of security when they engage online, and a majority of consumers reported identity theft as their top security concern, according to Experian’s 2022 Global Identity and Fraud Report, and 83% of consumers report that security is the most important factor in an online experience.
Plus, the CFPB announced last week that failure to safeguard consumer data may constitute unfair or deceptive practices.
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