ThreatMetrix Announces Research Study: 85% of Consumers Feel Online Fraud is a Growing Concern
ThreatMetrix and the Ponemon Institute reveal the first set of findings from their 2011 consumer survey, focused on consumer awareness and confidence in online fraud prevention: “Consumers’ Reaction to Online Fraud.” Most notably, the study found that 85% of survey respondents reported being worried and dissatisfied with the level of online protection businesses are providing to stop fraudsters today. Forty-two percent of respondents indicated that they have been the victim of online fraud, and of those, 80% said they did not report the crime and only 19% said they reported it only to the online business directly.
Other highlights of the findings include:
- Survey respondents who expressed concern over online fraud said they felt online merchants, banks and social networks need to take additional steps to prevent fraudsters from stealing consumer information.
- Consumers expressed much more willingness to share data like ISP, computer serial number, type and make, rather than information like date of birth and telephone number.
- Consumers have an overall positive perception about companies that use authentication and fraud detection tools to prevent online fraud. Fifty-six percent even indicated they are ‘more willing’ to shop or browse an online business if they know that company is taking specific measures toward combating fraud.
The research also looked at consumer sentiment about fraud prevention across the banking, social media and Web 2.0 industries and mobile channel. For more information about the findings, download a copy of the report at http://info.threatmetrix.com/ConsumerSurveyOnlineFraud2011.html.
