Awareness of identity theft is lowest in EU member states; online spending is
highest in the UK -- according to RSA Security survey
RSA(R) CONFERENCE EUROPE - VIENNA, Austria, Oct. 17 /PRNewswire-FirstCall/
-- Online transactions are increasing on both sides of the Atlantic -- with
mid-cost purchases the most popular -- but fear of identity theft and other
online fraud is having a direct impact on confidence in this medium, reports a
survey announced today by RSA Security Inc (Nasdaq: RSAS).
The research survey, conducted in Germany, France, the United Kingdom and
the United States by Momentum Research Group, gauges market confidence in
conducting more frequent -- and higher-value -- transactions online and helps
businesses to understand the key components in developing trust in online
transactions.
The survey shows that consumers in each of these nations are spending more
online today, although a significant segment is actively reducing their
investment. Online expenditure per respondent during the month of September
averaged 153 euros, with 40% stating that this was higher than 12 months ago.
The UK leads the way, averaging 231 euros per consumer, and US consumers spent
the least at 129 euros per capita.
While overall transaction values are increasing, 16% of respondents in the
US and 13% in the UK report that they are spending less than they used to.
These figures are higher than those found in Germany (6%) and France (9%), and
may be directly linked to increased awareness of identity theft. Nine out of
ten US consumers are familiar with identity theft, but knowledge of this
danger is much lower in France and Germany, where one in three consumers are
still unfamiliar with the concept.
"With this year's ongoing wave of publicity around US-based data breaches
and online fraud, it shouldn't be a surprise to anyone that understanding of
these threats is highest in North America," comments Art Coviello, president
and CEO of RSA Security. "What concerns me is that, while the industry is
working hard to promote best practices and defence measures to our citizens, a
high volume remain blissfully unaware of what identity theft is -- leaving
them exposed to potential exploitation."
The confidence issue is most pronounced in the United States. When shown
eight different website types and asked if these business sectors were doing
"everything necessary" to secure transactions, American respondents were less
confident than the Europeans in every case. Similar results were found when
the survey examined the security of personal information: a major confidence
gap was revealed amongst US consumers, with almost half stating that they have
little or no confidence that several groups are taking the necessary steps.
The groups cited include the government; industry alliances setting Internet
security standards; companies that produce computer hardware or software;
ISPs; and credit reporting firms.
Unsurprisingly, the highest concern in all regions is reserved for
websites dealing with sensitive data. Here, French consumers exhibit the
greatest fear -- and Germans the most confidence. Two-thirds of French
respondents are concerned about fraudulent access to personal information at
banking sites, and 61% are concerned about retail sites. By contrast, just 27%
of Germans are worried about the retail environment.
The pressure on businesses to reassure, nurture and retain their customer-
base is apparent throughout the survey. Consumers in all countries cite prior
online experience and company reputation as important factors in gaining their
trust -- and in their returning to conduct transactions online. Consumers also
feel that their e-tailers and banks are the entities responsible when it comes
to protecting personal data and, crucially, reimbursing customers when things
go wrong. French consumers, however, are unique in that they are unlikely to
hold e-tailers responsible for protecting their personal data, while still
holding them responsible for financial reimbursement. German respondents were
unique in believing that government also has a key role to play in protecting
them from foul play.
"For consumers, the key to online confidence lies at the door of the
business community -- meaning that it is imperative for online vendors to be
seen taking appropriate measures to protect their customers' interests,"
continues Mr. Coviello. "The survey clearly demonstrates that, once their
trust is earned, users will return -- and spend -- again and again. But that
trust is a fragile commodity."
Other key findings from the survey:
* Two out of three respondents in all regions are conducting 'a few more'
or 'a lot more' online transactions now than they were one year ago
* Less than half of consumers are familiar with phishing
* Consumers tend to feel that information theft/fraud happens as a result
of online transactions equally or more frequently than offline,
contributing to sense of concern about conducting transactions online
* Consumers are likely to require more education regarding the newer
security technologies before they will trust that these technologies
can help to secure their online transactions
Survey Methodology
The 39 question survey, focused on the issues of confidence and trust in
secure online transactions, was conducted online with 603 consumers in the
United States, the United Kingdom, Germany and France who have one or more
accounts that they access at least once per month. The data was gathered in
September 2005 by Momentum Research Group. ***Note to media: This research is
the first part of a larger study that will also include a survey of
businesses; the full survey and all results will be available in the near
future.
About RSA Security Inc.
RSA Security Inc. is the expert in protecting online identities and
digital assets. The inventor of core security technologies for the Internet,
the company leads the way in strong authentication and encryption, bringing
trust to millions of user identities and the transactions that they perform.
RSA Security's portfolio of award-winning identity & access management
solutions helps businesses to establish who's who online -- and what they can
do.
With a strong reputation built on a 20-year history of ingenuity,
leadership and proven technologies, we serve more than 18,000 customers around
the globe and interoperate with more than 1,000 technology and integration
partners. For more information, please visit http://www.rsasecurity.com
About Momentum Research Group
The Momentum Research Group is a research consultancy that uses
quantitative and qualitative research methodologies to not only inform its
clients, but also enhance their market profile. MRG has been recognized for
their development of thought provoking research on topics, such as the
macroeconomic impact of Internet technology on the United States and other
economies (e.g. Internet Economy Indicators
http://www.interneteconomyindicators.com and Net Impact
http://www.netimpactstudy.com).
Since its inception, MRG has had the pleasure of conducting such
innovative research for a number of clients including AMD, Autodesk, Cadence,
Cisco Systems, Hewlett-Packard, PeopleSoft, Siebel Systems, Sun Microsystems
and Sybase.
For more information, go to http://www.momentumresearchgroup.com.
RSA and RSA Security are either registered trademarks or trademarks of RSA
Security Inc. in the United States and/or other countries. All other products
and services mentioned are trademarks of their respective companies.
For more information:
Courtney Hohne Matt Buckley
OutCast Communications RSA Security Inc
(415) 392-8282 (781) 515-6212
courtney@outcastpr.com mbuckley@rsasecurity.com
SOURCE RSA Security Inc
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Related links:
http://www.rsasecurity.com
CONTACT:
Courtney Hohne of OutCast Communications,
+1-415-392-8282, courtney@outcastpr.com; or Matt Buckley of RSA
Security Inc, +1-781-515-6212, mbuckley@rsasecurity.com
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