Thursday, June 30, 2005

Security concerns stunt e-commerce

#98 Security concerns are eroding Internet users' confidence and having such a chilling effect on their online behavior that U.S. business-to-consumer sales will grow more slowly than expected in coming years, Gartner Inc. warned this week.

Alarmed at the startling rise in phishing attacks, spyware intrusions, virus infections and the compromising of personal data, Internet users are limiting their e-commerce activities. Consequently, Internet service providers, financial institutions, online retailers and other companies selling goods and services to consumers via the Internet must address these concerns and put safeguards in place to protect their clients.

In a similar survey done by The Conference Board more than 13% of all Internet users say they or a member of their household has already been a victim of identity theft. The survey found that nearly 70% of consumers have installed additional security software on their PCs, and 41% said they're purchasing less online -- a fact that has some pretty negative ramifications for e-tailers, including slowing the growth of e-commerce.
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