Business & Money | Sunday 22 May, 2016 6:29 pm |

An EMEA-wide study commissioned by F5 Networks has revealed that whilst Saudi consumers have no confidence in some organisations to keep their data safe, many are willing to share their personal information in return for using a service for free. The study, conducted by Opinium Research, surveyed over 1,000 consumers across the Kingdom, exploring their attitudes towards data security and handling.

Fear of the known 

Sharing data with private companies left more than half (59 per cent) of consumers concerned that their data would get into the wrong hands, followed closely by their privacy being compromised (57 per cent). Social media brands and marketing companies fared the worst: 67 per cent and 57 per cent respectively stating they do not trust either with their personal data at all. Only 33 per cent were confident that social media companies could protect consumer data effectively from hackers. 

But for some, these fears were overlooked if it meant they could use a company’s services for free. 58 per cent of Saudi consumers were willing to share their date of birth, and 56 per cent their marital status, 47 per cent their personal interests. Saudis were among the most generous in EMEA when it came to sharing their shopping habits (42 per cent) and their mobile number (50 per cent).

Indeed, Saudi consumers were consistently more willing to give up their data compared to consumers in Europe; only 8 per cent per stated they would not give up their data at all, compared to 33 per cent the UK.

With trust comes expectation 

While consumers in Saudi Arabia regarded banks as the most trustworthy companies (91 per cent), there is dissatisfaction in the methods used to protect their data. Consumers believed that banks (86 per cent), public sector and government (80 per cent), insurance (72 per cent) and healthcare (71 per cent), needed to field better authentication capabilities to achieve greater security. 

Across EMEA, 88% of consumers felt strongly that organisations should improve authentication for greater security. 

 “There are clear differences in the type of companies that consumers trust with their data,” Mike Convertino, CISO and VP, Information Security at F5 Networks commented. “More traditional players such as banks are by far considered the most trustworthy but interestingly, we share the most information with social media channels despite the fact that we trust these companies the least to keep our data safe. Regardless of the industry, any consumer facing organisation needs to ensure that its protection is in line with its customers increasing demands. As we all become more aware of the risks, it becomes even more important to get a security and data protection infrastructure – technology, education and processes - in place that is stringent enough to protect against threats, but does not harm the customer experience.”

The Debate: Privacy or Protection? 

In the wake of the Apple and FBI debate over smartphone unlocking, 37 per cent of consumers agree with the statement that technology organisations should prioritise national security over consumer privacy  and give government agencies access to locked devices. The responsibility for protecting consumers against cyber terrorist threats is up for debate. Over a fifth (23per cent) of consumers believe that we should be responsible for protecting ourselves whilst close twice as many (53 per cent) felt that it was the job of the government of their country to protect its citizens. 75% of surveyed consumers said they were worried about cyber terrorism in Saudi Arabia.