The travel sector is almost bottom of the league when it comes to protecting its customers’ identification, according to an annual survey in to trust, by security specialist GB Group.
Only 6% of those polled said they had faith that their travel operator would keep all their client details safe from the potential risk of ID fraud.
This compares to just under half (48%) of UK consumers saying they don’t trust their high street bank or building society to protect their personal details from identity thieves, although only one in five (20%) trust other sectors of the financial industry, including mortgage brokers, financial advisers and stockbrokers, to keep their information safe, in a shock new finding.
The research also suggests that consumers will vote with their feet unless organisations tighten up their online fraud safeguards – just under half (45%) of those polled are prepared to give up online banking and shopping to avoid becoming a victim of identity fraud.
The poll highlights the dramatic gulf in trust between younger and older generations in the UK - over 40% of 18-24 year olds trust new and emerging businesses such as mobile ‘phone companies, online retailers and gambling companies compared with just 19% of 45-54 year olds.
Mobile ‘phone, gambling companies and social networking sites fared even worse by coming bottom of the league in a survey by YouGov for identity fraud prevention specialists GB.
And according to GB, this latest research provides a wake up call to businesses - proving they are capable of protecting their customers against identity fraud is essential for future growth.
Rob Laurence, managing director of GB’s fraud prevention business, said, ”Identity fraud is a major issue for consumers and it’s clear companies need to do much more to win their trust.
“The majority of adults in the UK have a bank or building society account, yet just half actually trust those organisations with their personal information. Well over 45 million people in the UK have a mobile phone, but less than one in ten of those polled trust their mobile company with their personal details.
He added, “We have to ask ourselves why this is. Information security has been high on the agenda for over four years now - why do consumers still feel businesses do not do enough to stop fraudsters from getting hold of their personal information?
“Our research reveals that consumers are ultimately prepared to give up online banking and shopping to prevent identity fraudsters from getting hold of their data. As it is widely accepted that online fraud will continue to rise and fast, failure to protect could have dramatic consequences for business growth.”
‘Trust league’ – breakdown of trusted sectors
1. Bank and building societies: 52%
2. Central Government: 25%
3. Local councils: 21%
4. Mortgage brokers, independent financial advisers, stockbrokers: 20%
5. Utility companies: 18%
6. Retailers: 9%
7. Mobile phone companies: 9%
8. Travel companies: 6%
9. Gambling companies (casinos, online gaming sites, interactive TV gambling programmes): 4%
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