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80,258 News Articles

Online consumer confidence dips

RSA launches 'Ten Days Against Online Fraud'

In response to research that suggests consumers are becoming increasingly insecure about online transactions, RSA has launched a Europe-wide initiative to educate computer users about the risks of financial deals on the web.

RSA's annual Financial Institution Consumer Online Fraud Survey was conducted in December 2006. It questioned 1,678 adults from eight countries around the world about the effect of phishing, pharming and Trojan attacks.

The results suggest that online fraud is starting to undermine consumer confidence in using the web for financial transactions.

Eighty-two percent of account holders said they would be less likely to respond to an email from their bank due to scams including phishing – up from 79 percent in 2005 and 70 percent in 2004. More than half said that as a result they would be less likely to sign up for or use online banking. In addition, 44 percent of account holders reported that they have become increasingly concerned about other types of attacks (besides phishing), such as Trojans and keyloggers. Sixty-nine percent believe that financial institutions should implement stronger authentication for online banking.

PC Advisor's own research, conducted at the turn of the year, found that almost half of 2,082 respondents were not entirely happy with online-banking security. Thirteen percent of respondents described online banking as 'a mug's game'.

Running from 28 March until 6 April,'Ten Days Against Online Fraud' will turn the tables on cybercriminals, providing practical advice for consumers to reverse this trend. The information will be delivered via country-specific websites. The campaign has been endorsed by numerous law enforcement and industry bodies across the UK, France, Italy and Spain.

There'll be an overview of identity theft, descriptions of the different types of online fraud, tips for consumers and financial institutions and advice on what to do if you are a victim of online fraud.

Throughout the campaign, visitors to the websites will be able to pose questions via a web forum, which will include a posting from an online security expert. Visitors will have the chance to comment, share experiences, pose questions and learn from the experiences of others.

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