Economic Crisis Causing Increased Worldwide Consumer Fears About Fraud, Security Risks According To Research

  • Apr 20, 2009

Two-thirds of consumers around the world believe that the current economic crisis has impacted their personal risk for ID theft or fraud, according to research conducted in February and March by Unisys Corp.

The current global findings of the Unisys Security Index, which complement recently released country-specific results, also show that fears about bank card fraud and identity theft have increased. These areas remain the top overall consumer concerns globally, where they have ranked since Unisys began the comprehensive biannual study in 2007, and the increase in ID theft fears reverses a small downward trend. In addition, the survey saw a 10 point increase in Internet security fears worldwide, which included near equal rises in concerns about online banking and shopping as well as computer viruses and spam.

“Our research is a wake up call to every organization that serves consumers since perception is reality, and security fears are clearly growing worldwide,” said Tim Kelleher, vice president and general manager of Managed Security Services atUnisys. “Not only do the vast majority of people believe that the current global financial crisis directly increases their personal risk of being an ID theft or fraud victim, but general concerns about online transactions, computer viruses, and meeting financial obligations all saw significant increases among consumers worldwide. While the economic environment is difficult, it is more imperative than ever that businesses and governments assuage these fears by investing in unified solutions that address all their security vulnerabilities.”

The Unisys Security Index is a biannual global study of consumer opinion on four areas of security: financial, national, Internet and personal safety. The results are tallied on a scale of 0-300, with 300 representing the highest level of perceived concern. More than 8,500 consumers in Asia-Pacific, Brazil, Europe and the U.S. responded to the latest survey conducted from late February and March, 2009. Each survey also includes supplemental research on a security niche topic such as the current data on the impact of the global economic crisis on ID theft and related fraud fears.

  • The average global score for the current Unisys Security Index is 133, indicating moderate security fears overall. The overall score has remained relatively constant since the research began in August 2007; however, there are some striking geographic differences and higher concerns in specific areas:
  • While personal, financial, and Internet security concerns all increased in the current study, national security concerns continue to decline globally, continuing a trend since the research began in 2007.
  • Compared to the last study in September 2008, increases in financial security fears are highest in Germany, Spain (both countries’ scores are up 15 points), New Zealand (+14 points), and the U.S. (+12).
  • Germany and Brazil are tied with the highest scores (177) in financial security fears; however, Brazil is down nine points in the latest research.
  • The spike in Internet security was driven by big increases in Spain (+22 points), New Zealand (+18), and the U.K. (+10). Germany has the highest level of concern about Internet security with a score of 167, nearly matching its overall Security Index score of 169.
  • An overwhelming majority (84 percent) of Spanish consumers believe the financial crisis will increase their risk of ID theft and fraud schemes. Nearly three quarters of people in the U.S. (74 percent) and U.K. (72 percent) share a high concern in this area.
  • The Netherlands and Belgium have the lowest Unisys Security Index scores in all categories. Citizens in these countries in particular are least concerned about national security (scoring only 67 and 74, respectively).
  • Belgium and the Netherlands have much lesser security concerns as compared to Germany, Spain and the U.K., showing clear contrasts in the Benelux region and larger Western European countries.
  • With a Unisys Security Index score of 178, Brazil is the most concerned country overall, and also ranks top or second (to Germany) in all categories.
  • New Zealand saw the greatest change (+15 points) to 124 in its overall score compared to the last results in September 2008.

“We continue to see unique nuances around the world, which can provide insight for businesses and governments when developing security solutions and communicating to customers,” Kelleher said. “The Unisys Security Index is a reminder that one global solution can’t always be the answer when cultural differences and regional issues impact consumers’ views. Enterprises need to take a more unified approach to security and consider both common worldwide threats and trends, and how these relate locally depending on market conditions.”

Featured

  • New Report Reveals Top Trends Transforming Access Controller Technology

    Mercury Security, a provider in access control hardware and open platform solutions, has published its Trends in Access Controllers Report, based on a survey of over 450 security professionals across North America and Europe. The findings highlight the controller’s vital role in a physical access control system (PACS), where the device not only enforces access policies but also connects with readers to verify user credentials—ranging from ID badges to biometrics and mobile identities. With 72% of respondents identifying the controller as a critical or important factor in PACS design, the report underscores how the choice of controller platform has become a strategic decision for today’s security leaders. Read Now

  • Overwhelming Majority of CISOs Anticipate Surge in Cyber Attacks Over the Next Three Years

    An overwhelming 98% of chief information security officers (CISOs) expect a surge in cyber attacks over the next three years as organizations face an increasingly complex and artificial intelligence (AI)-driven digital threat landscape. This is according to new research conducted among 300 CISOs, chief information officers (CIOs), and senior IT professionals by CSC1, the leading provider of enterprise-class domain and domain name system (DNS) security. Read Now

  • ASIS International Introduces New ANSI-Approved Investigations Standard

    • Guard Services

  • Cloud Security Alliance Brings AI-Assisted Auditing to Cloud Computing

    The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today introduced an innovative addition to its suite of Security, Trust, Assurance and Risk (STAR) Registry assessments with the launch of Valid-AI-ted, an AI-powered, automated validation system. The new tool provides an automated quality check of assurance information of STAR Level 1 self-assessments using state-of-the-art LLM technology. Read Now

  • Report: Nearly 1 in 5 Healthcare Leaders Say Cyberattacks Have Impacted Patient Care

    Omega Systems, a provider of managed IT and security services, today released new research that reveals the growing impact of cybersecurity challenges on leading healthcare organizations and patient safety. According to the 2025 Healthcare IT Landscape Report, 19% of healthcare leaders say a cyberattack has already disrupted patient care, and more than half (52%) believe a fatal cyber-related incident is inevitable within the next five years. Read Now

Most   Popular

New Products

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.