Over 40 percent of Brits refuse to shop online because they are concerned about security, says CyberSource.

Research by the company revealed that over a third of those surveyed know someone that has been a victim of online fraud. In response to this a number of web users that do shop online said they take steps to protect themselves against ID theft.

Nearly 70 percent said they had signed up to secure credit card services such as MasterCard SecureCode or Verified by Visa that issue a password that must be input along with card details to make a purchase. Eighty-six percent of online shoppers also said they look for the secure padlock icon on a website before proceeding with a purchase.

"With the abundance of media coverage about security breaches, it is not surprising that some shoppers are frightened off," said Simon Stokes, managing director of CyberSource.

"The challenge to the industry is educating consumers to shop safely, to minimise their exposure to fraud. As more people gain access to the internet and realise the convenience, value, and safety of shopping online, I believe we'll see a higher percentage trying and staying with this form of purchase."

See also: 1 million UK children make illicit online purchases

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