Do breaches actually cause for a loss in trust and credibility?

I’m always hearing about how preventing breaches is so important because it will devalue the company in the eyes of its customers. The idea is that customers will lose trust in a company that mishandles their data. This seems to me to be really just a myth.

In my observations, the population at large just really doesn’t seem to care at all. Most people are completely unaware that their passwords have been leaked, or if they are, they probably aren’t …

breaches customers cybersecurity data hearing important loss the company trust