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Multi-layer authentication on top of British consumers preferences

Tuesday 9 May 2017 09:48 CET | News

Research from Equifax has revealed that 60% of consumers think that fewer than three security steps are insufficient to assure their bank account is secure.

This figure is supported by the fact that just over a fifth of the British population (21%) have previously had either their social media or email account hacked. After experiencing such incidents, the majority of these people (81%) either changed their password, or (20%) chose to completely close the account. In addition, younger generations are more inclined to closing accounts, with 39% of people aged 18 to 24 closing their account versus 18% of 35 to 44 year olds and 12% of over 55s.

Bank details (81%), followed by debit or credit card PIN number (72%), passport (60%), and driver’s licence (46%) are top concerns for users, when asked about what personal information would worry them most if stolen and used for fraud.

Personal photographs were of least concern with only 27% of people worrying about these being stolen by fraudsters. In the event of suspected fraudulent activity, 32% of consumers would prefer their financial provider to alert them with a phone call compared to 21% via email and 20% via text message.


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Keywords: Equifax, financial applications, identity authentication, security, fraud prevention, UK, Europe, study
Categories: Fraud & Financial Crime
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Countries: World
This article is part of category

Fraud & Financial Crime






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