Cyber-crime Concerns Make Online Shoppers Think Twice

Seven out of 10 people worry their financial details are vulnerable to cyber-criminals when it comes to online shopping, according to research from SafeNet Incorporated, a global leader in information security.

SafeNet surveyed 250 people in the UK, including accountants, management consultants, and marketing and HR executives about their security fears. Four out of five respondents admitted that lack of faith in internet security has stopped them from shopping online in the past.

One in three people said they had concerns about their financial details when banking online. Only one in five said they had never worried about their financial details on the internet. Additionally, the SafeNet survey revealed that 60% of respondents said they worried about their details when making payments over the phone.

The majority of respondents—75% —answered that they would feel "more confident" if there was an industry enforced internet security standard, which all retailers and financial institutions conformed to. Moreover, recent research from Javelin Strategy shows that retailers' reputations for safeguarding consumer information, such as credit card data, directly relates to consumers' willingness to shop with that organisation.

Added on April 24, 2007 Comment

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