Consumers demand protection, says survey

Despite massive investment from UK business in online security, consumers continue to demand a higher degree of protection, says a new survey.

The study, by computer firm Compaq, shows that 53 per cent of people believe organisations such as banks, credit card andphone companies are not doing enough to guard against fraud.

Additionally, more than three quarters of consumers (77 per cent) would be willing to trade personal information such as fingerprints and DNA for tighter protection against digital fraud.

Compaq's CEO and Chairman for the UK & Ireland, Rene Schuster, said "E-minister Douglas Alexander's recent announcement of four new initiatives to develop solutions to fight digital fraud, signals the growing importanceof this issue to senior government officials.

"Consumers feel vulnerable to digital fraud, and consumer confidence is key to the development of a strong and effective digital economy."

A recent CBI report on cybercrime in the UK identified loss of reputation from digital fraud as a bigger concern than any financial loss.

"Traditional crime - particularly fraud - usually results in direct financial loss to the business," said Schuster. "While this remains a concern, the survey indicates that for organisations conducting e.business, fraud is not the greatest worry. 69 per cent of respondents considered their e.business financial loss to be negligible".