RSA Security Consumer Study Reveals Major Concerns Over Online Security and Identity Protection
RSA(R) CONFERENCE 2005, SAN FRANCISCO, Feb. 14 /PRNewswire-FirstCall/ -- An
annual study released today by RSA Security Inc. (Nasdaq: RSAS) showed
continuing reluctance by consumers to conduct personal business online due to
security concerns, with nearly one-fourth reducing their online shopping and
one-fifth refusing to work with their financial institutions over the
Internet. More than half of all respondents believe that widely-used user
ID/password protection schemes are not enough for the protection of online
information.
"Clearly there's a lot of work to be done if businesses want to build more
online trust with consumers. While awareness of threats remains high,
consumer confidence in dealing with those threats is low," said John Worrall,
vice president of worldwide marketing at RSA Security. "The message here is
simple: if organizations want their customers to do business with them online,
they need to implement stronger forms of information security. In the battle
to win over the confidence of online customers, it's obvious that traditional
passwords are the main enemy."
Consumer Trust Affecting Online Purchases and Banking
The third annual study, commissioned by RSA Security and conducted by
Opinion Research Corporation, was initiated to explore consumers' current
attitudes, perceptions and security practices - and how these have changed
over the last two years. More than 1,000 consumers were asked a variety of
questions relating to awareness of security issues, feelings of safety, and
use of available safeguards against identity theft and computer attacks.
When asked the question "How informed are you about identity theft issues
now when compared to a year ago," 61 percent of respondents considered
themselves "More Informed." However, only 18 percent of adults feel safer,
and 23 percent actually feel more vulnerable than they did in 2004. In
addition, 25 percent of respondents have reduced their online purchases in the
past year, and 21 percent refuse to conduct business with their financial
institutions online. Another 43 percent refuse to give out personal
information to online merchants. "In order to move from awareness to
confidence, consumers need to see evidence that business is taking action to
protect personal information," added Worrall.
Passwords Increasingly Seen as Key Area of Vulnerability
The study also asked for opinions relating to traditional user ID/password
security schemes, with more than half of all respondents (53 percent)
believing that these do not provide enough protection for online information.
According to the survey, poor management of PINs and passwords for access to
online services, desktop computer systems, ATMs and other electronic accounts
is a major vulnerability. More than two in three respondents (65 percent) use
fewer than five passwords for all electronic information access, and 15
percent use a single password for everything. These numbers are identical to
the 2004 figures. "The majority of consumers are aware of the problems
associated with passwords, but until they are presented with a reliable,
easy-to-use alternative, they're going to continue to exhibit poor password
management practices," Worrall said.
Internet service providers and financial institutions are beginning to
offer users the option of stronger forms of authentication. In late 2004, for
example, America Online launched a premium service in conjunction with RSA
Security called AOL(R) Passcode, providing members with the option of a second
level of protection beyond passwords. "We've seen the beginnings of a trend
toward the widespread replacement of passwords with better authentication
methods," said Worrall. "And its continuation will help bridge the gap
between consumer awareness of identity theft and actual protection against
it."
Other findings in the study:
-- Consumers continue to express concerns over sharing personal
information with online merchants. The 2004 survey showed 44 percent were
unwilling to do so, compared to 43 percent this year.
-- Consumers believe that the primary responsibility for identity theft
protection lies with both individuals and their financial institutions. When
asked the question "Which of the following are 'Very Responsible' for
protecting you against identity theft," 61 percent listed themselves and 52
percent listed banks/financial institutions (more than one response was
permitted).
-- Nearly 70 percent of the respondents do not feel that companies they do
business with online are doing enough to protect personal information.
AI
