British online fraud diligence dropping

gallery

British adults lost almost twice as much money to online fraud between April and September, in comparison to the previous six months.

The average amount lost to online fraud stood at £697 per victim during the last six months, compared to an average of £352 over the same period leading up to March, according to a report from VeriSign.

The research discovered 80 per cent of UK online consumers would never use a website not displaying enhanced security credentials, representing a fall from 82 per cent and thus a decline in security diligence, VeriSign’s owner Symantec said.

Matthew Bruun, EMEA sales director for VeriSign authentication at Symantec, said the report showed how lucrative online fraud had become.

“All online businesses have a responsibility to protect their customers,” Bruun said.

“If companies aren’t encouraging trust through measures like strong authentication or EV [Extended Validation] SSL – which turns the URL bar green to indicate a secure site – they risk losing customers to web sites that are more proactive when it comes to security.”

In terms of a Geographic breakdown, the Scots had the best record for the fewest online fraud cases, while Northern Ireland was the most hit.

The Welsh took the unenviable crown of the least diligent UK citizens when it came to online safety. Just 69 per cent said they only buy from sites with enhanced safety measures.

“It’s vital for consumers to appreciate how skillful these criminals are and take the appropriate measures to protect themselves online,” Bruun added.

Other results released this week, taken from data provided by the 265 member organisations of CIFAS - The UK’s Fraud Prevention Service, found overall fraud had fallen slightly.

In the first nine months of 2010 there were almost 158,000 cases of fraud confirmed by members, representing a 4.52 per cent decrease from the same period in 2009.

“In a year where the 'age of austerity' has become a catch all term (and applications for products and services may decrease as a result) it is perhaps unsurprising to see such a reduction,” said CIFAS communications manager Richard Hurley.

“The fact, however, that fraud has increased by over six per cent during a two-year period only serves to underline how the fraud threat is just as potent and widespread as ever.”

The sixth National Identity Fraud Prevention Week was held last month in a bid to help heighten awareness and get British people protecting themselves better.

Email to a friend

Print this page