I Lost Trust in You!

Couple of years back, while I was driving to work, I receive a call from my financial institution. After the initial introductions, the first question I was asked was – Sir, have you been to China recently? China is a large and beautiful country. I always wished I could visit it.

I was then told that my card was charged with more than 12000 USD from China and that this could be a fraudulent activity. I was fortunate enough that financial institution credited everything back to my account.

A few days later I came to know that someone hacked into BJs system to get hold of customers’ card information. Now I know what happened.

Should I be using BJs anymore or should I start shopping at COSTCO? BJs, I lost trust in you!

According to recent study by Ponemon Institute , 62 percent of the respondents to the survey conducted by the institute were notified that their confidential data was stolen. The study says 84 percent of the respondents reported increased concern or anxiety due to the theft and that 62 percent would not trust a company who lost their information due to the company’s negligence. Some of the notified respondents tend not to use any more cards at the shops any more. Looks like consumer behaviour and confidence in changing!

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