Consumers are worried enough about information security breaches to a have a major impact on consumer loyalty and business relationships, according to a new study.

More than half of consumers surveyed in the U.S. and Europe say their security concerns are increasing, and 40 percent say they have stopped a transaction online, on the phone or in a store because of security concerns, according to "Secure the Trust of Your Brand" report (pdf) by the Chief Marketing Officer Council, DM News reports. More than one-third say they would seriously consider taking their business elsewhere - a quarter say they definitely would - if their personal information were compromised.

U.S. consumers are most concerned with identity theft, whereas European consumers cite online transaction security as the biggest information-based concern. Two thirds of consumers across the U.S. and Europe say they have been the victim of security breaches such as viruses and spyware.