Security Concerns Over Online Financial Services Grow - eWeek

eWeek, By Nathan Eddy

Consumer confidence in the security of online financial transactions has dropped, according to the findings of a new survey from Kaspersky Lab and B2B International. The study revealed that 49 percent of participants worldwide feel vulnerable while shopping online or making online transactions.

In addition, 42 percent of survey respondents said they would use online payment systems more often if they felt they were protected from cyber-fraud.

For example, 40 percent of those who make payments online feel that the official mobile applications offered by financial companies require more security protection.

"The addition of mobile payments will help further drive payments online. Companies are releasing mobile apps, making it easier than ever for consumers to purchase goods," Roel Schouwenberg, principal security researcher at Kaspersky Lab, told eWEEK. "Currently, we're in a phase where user-convenience is often the defining factor in deciding to use these payment systems." Read more.