Singapore: online shopping growth makes shoppers worry about security

Friday 1 August 2014 00:28 CET | News

The top concerns among online shoppers in Singapore were identified as being the fear of having their financial details stolen by cybercriminals and falling victim to fraud, according to a recent survey.

A report conducted by PayPal shows that more than three-quarters of respondents shop online at least once a month, and that their concerns over fraud and cybercrime are rising in tandem.

Findings reveal that 78% of respondents shopp online at least once a month, with more than half, or 55%, doing so via mobile devices such as smartphones or tablets. And with two-thirds saying they spend more than USD 79 (SGD 100 ) online, the top concerns among online shoppers were having their financial details being stolen by cybercriminals and falling victim to fraud (57%), as well as sharing credit card details with a website they had not visited before (20%).

However, the report indicates that online shoppers have not fallen victim to fraud or cybercrime. Instead, 36% of respondents have been identified with not receiving their items or receiving damaged physical goods.

The study also uncovers that while ecommerce cross-border is becoming increasingly popular, the majority of those who do so (89%) are more concerned about online risks when shopping from overseas websites compared with local websites. More respondents also felt safe purchasing digital goods (62%) online compared to physical goods (54%).

The digital payment portal’s survey was conducted on a batch of more than 1,000 Singaporean adults.

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Keywords: online shopping, shoppers, security, web fraud, payments , digital identity
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime