The threat of identity theft has consumers surfing the Web less often, but those organizations who take steps to protect surfers’ identities are more likely to expand their customer and user bases. This, according to a survey released October 19 by Net security company Entrust.
The survey, which was performed by Greenfield Online over four days in mid-August, showed 80 percent of respondents were concerned about someone stealing their online identity information, while 85 percent used some kind of e-commerce but only 59 percent did online banking.
Yet most also told their questioners that they were willing to “engage in more and higher value services online” if their identity security was improved, Entrust said.
“[T]he proliferation of online hazards such as ID theft and phishing scams is threatening the growth in e-commerce and Internet use that we have experienced over the past decade,” said Entrust chief executive Bill Conner announcing the survey.
“Corporations and other organizations that offer online services to consumers are at risk of experiencing financial and reputation losses unless they act quickly to protect customers’ identity,” he continued. “By offering protection against online identity theft, organizations can help counter this threat and, as shown by these survey results, help create opportunities to deliver new services to new users. It’s good security practice and it’s good business.”
Other results showed 72 percent of respondents who don’t bank online would do so if security improved, and 90 percent of those who do bank online now would take advantage of higher-value services if identity security were improved dramatically. Sixty-five percent of respondents said better online identity security would influence which Web businesses with which they do business, and 22 percent of the online bankers said they would switch banks to get better identity protection.
“The results from this survey highlight the importance of taking action to safeguard data, and therefore clients, customers and consumers from identity theft,” said FSTC executive director Zachary Tumin. “It is also very encouraging to see that consumers are becoming better educated on phishing and identity theft in general, and that many would actively seek out alternate financial services providers if another organization could offer them better protection.”
