Cyber Security

Americans most concerned about financial security, bank card fraud

Cyber Data SecurityA recent survey by IT security firm Unisys showed Americans are most concerned about financial security—a sentiment driven in part by bank card fraud, which has increased in recent years as cyberattackers target retailers.

According to the survey, approximately 60 percent of Americans are concerned about other people obtaining and using their credit and debit card information. The number of people who are “very” concerned jumped from 28 percent in 2013 to reach 35 percent this year, and the number who are somewhat concerned fell from 30 percent in 2013 to 24 percent.

When it comes to banking and shopping online, one in three Americans said they are seriously concerned regarding the security of online transactions.

Additionally, more than half of all respondents in the survey said a security breach at a bank or retail store they commonly use would make them less likely to conduct business at the same store or bank in the future.

Unisys said that while no organization is immune to a security breach, firms should develop an overall security strategy, establish a “security first” mentality, use data analytics to safeguard sensitive information and leverage the capabilities of next generation devices like smartphones and tablets.

“Organizations can utilize such emerging technologies that have already paved their way into the enterprise and the consumers’ mind,” the report said. “The opportunity here is to grow in tandem with consumer preferences while ensuring highest levels of protection.”

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