US online consumers not confident in personal data security

Friday 19 December 2014 00:28 CET | News

Holiday online shoppers are not confident in the security of the personal and payment information used to complete a transaction, a recent report shows.

According to a survey conducted by KPMG, 63% out of the 66% holiday season consumers are unsure of their personal information security. 47% of online shoppers identified that they store some or all of their credit card information on retailer websites for quick and easy access to their accounts, and yet 40% of online shoppers stated that they have not changed their password in 2014.

Findings reveal more than a third of consumers (38%) stating that there is a negative impact on how they perceive a company once it has experienced a security breach. According to the research, 27% of consumers will only shop at a store that previously experienced a cyber-attack if they cannot find the product elsewhere; 8% refuse to shop at these stores all together.

The report unveils that of the consumers that stated that they change their online passwords regularly, 41% said that their decision was influenced by recent news of an information security breach at a retail company. 12% of consumers who regularly change their passwords do it because they once were victims of identity theft and know the importance of maintaining proper password protection. Of those who do not change their online passwords regularly, 38% feel that their passwords are secure enough and 36% state that changing their passwords is too much of an inconvenience.

About 1,400 US consumers participated in this online-survey consisting of 31 questions.

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Keywords: US, online consumers, personal data, online security, digital identity, passwords, payment information
Categories: Fraud & Financial Crime
Countries: World
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Fraud & Financial Crime

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