Tuesday, May 24, 2005

Public worried about online ID theft

In a survey commissioned by software firm Intervoice, 17% of people said they had stopped banking online while 13% had abandoned web shopping.

This came as no surprise, especially in the light of all the press around this issue and some of the stupifying numbers being bandied about with ID theft and particluarly phishing. The strange thing is the Banks are not actually worried about the fraud loss itself, as this is insignificant compared to traditional credit card fraud. Their main concern is the credibility of their online offerings.

For a while now everyone thought Joe Public wouldnt be as concerned with all the breaches, but now they have been proved wrong with many surveys yielding that online fears of consumers are rapidly rising to the point where it could seriously dent public e-commerce.

Many e-traders and banks are now offering tokens to their clients to address this issue and those that haven't yet are seriously looking at it.
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