Report: Consumers Concerned About Cybersecurity But Not Showing It

Nov. 25, 2015

Report: Consumers Concerned About Cybersecurity But Not Showing It A new report from cybersecurity firm Symantec highlights the conundrum faced by merchants and payment providers: consumers are concerned about security but they’re not doing anything about it. In the Norton Cybersecurity Insights Report, 62 percent of consumers believe it’s more likely their credit card information will be stolen online than out of their wallet. The bombardment of news about data breaches is contributing to unease about online and mobile payments, the report said.

“Consumer confidence was rocked in 2014 by an unprecedented number of mega breaches that exposed the identities of millions of people who were simply making routine purchases from well-known retailers,” said Fran Rosch, executive vice president for Norton by Symantec. “Our findings demonstrate the headlines rattled people’s trust in mobile and online activity, but the threat of cybercrime hasn’t led to widespread adoption of simple protection measures people should take to safeguard their devices and information online.”

Most U.S. consumers awarded themselves an “A” when grading their security practices, but the survey found less than half always use a secure password and many families and friends share account passwords (including a third who share passwords to bank accounts).