Online shoppers don't prioritise security

New research suggests online consumers are becoming less concerned about the security of their credit card and bank details.

The security of financial details was the top concern of only one in four respondents to a new European survey by web security vendor Websense.

However, this apparent confidence in online shopping could be the result of a lack of awareness of the potential risks, said Websense product manager Ross Paul, adding that the fact that most consumers have not experienced online fraud may be lulling them into a false sense of security.

"A sophisticated attack would make the web site appear secure to anyone but a security expert," he argued. "Many people lack awareness of what the risks are – seasonal events generate immense activity online and intelligent criminals are likely to take advantage."

Of the more than 1,000 shoppers surveyed in London, Milan and Paris, over a third admitted to not always checking for the security padlock symbol, while 75 percent said they were not confident about being able to identify secure sites.

Meanwhile, the 2007 UK Online Fraud Report commissioned by secure payment solutions specialist CyberSource has found that online retailers' fraud-prevention efforts are resulting in reduced losses from internet crime.

Nearly 60 percent of online retailers surveyed said fraud levels are static or down in terms of monetary value, while around half now use some kind of automated system to detect fraudulent transactions.

See also:

Online banking hit by rising fraud levels

Online banking fraud has risen by 55 percent due to the impact of phishing attacks  07 Nov 2006

Online retailers and service providers must beef-up fraud detection and prevention

Consumers could vote with their feet if high profile incidents of identity theft continue to hit the headlines  17 Oct 2006

Banks mull customer liability for online fraud

Experts warn that banks may get tougher on consumers who do not do enough to protect themselves  12 Jul 2006

Online fraud steadies but dangers remain

Online fraud in the UK may have levelled off, but firms must continue to strengthen their defences  09 Mar 2006

Chip and PIN to guard e-commerce at home

Clearing service Apacs plans to secure e-commerce with smart-card readers for home PCs  20 Feb 2006

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