Survey: Most consumers concerned about online fraud

Los Altos, Calif. -- A survey released Tuesday by ThreatMetrix and The Ponemon Institute found that the majority of consumers have real concerns about online fraud.

According to the study “Mobile Payments & Online Shopping Survey of U.S. Consumers,”  one-third of consumers intend to purchase more online than in-store this holiday shopping season, and three in four have either some or serious concerns about online fraud.

Forty-three percent report they have been the victim of online fraud, up slightly from 42% that was reported in a similar study in early 2011. 

“While consumers continue to show a preference for the convenience of shopping and browsing online, their concerns about becoming a victim of online fraud is also growing,” said Bert Rankin, VP marketing, ThreatMetrix. “With mobile thrown into the shopping mix, which is even more apparent this year, consumers and retailers alike need to be well equipped against fraudsters in every possible channel.”

Nearly one in three consumers believe the fraud risk to be lower on a smartphone or tablet than on a desktop or laptop computer, added Rankin. When asking the “Elite” group – which for the purpose of the survey are consumers who could be considered extremely active users of the Internet – that number increased to 39%.

“An overwhelming 84% of survey respondents said they thought it was important that a retailer express a commitment to protecting them from fraud.

Most popular purchases using a mobile payments option on a smartphone or tablet are music downloads (77%), online service subscriptions or memberships (75%) and apps for smartphone or tablets (73%), according to survey results. Consumer electronics ranked slightly above clothing, at 48% and 43%, respectively.
 

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