Web Security News

Online security fears affect consumers more than economy

Wednesday, July 1, 2009

Seventy-two percent of consumers said the economy has not changed the way they shop online, but nearly half of consumers have terminated an online order due to security fears, according to a new survey by web security vendor McAfee.

Tim Dowling, vice president of McAfee's web security group, said security concerns are the driving force behind whether an online transaction is completed or terminated.

According to the survey, 63 percent of online consumers won't purchase from a website that does not display a trustmark or security policy.

A trustmark is a seal, logo or icon displayed on e-commerce websites to show that merchants are making an effort to protect their customers.

The Harris Interactive study also showed that 90 percent of consumers are concerned about their security when shopping on new or unknown sites and 47 percent of consumers look for trustmarks to feel safe when shopping on a lesser known site.

By displaying a trustmark, the lesser known site can prove credibility to potential customers and gain market share from larger sites, McAfee said.